With India’s population crossing the 2 billion mark, it is not a simple assumption only that the jobs that are required is growing by leaps and bounds. Millions of people are there waiting for getting an employment. The intensity of this need is so much that people are no more looking at the salary or the status of the job they are being offered. And all this is because the employment generation is taking a backseat. The rate of job creation is not getting proportionate with the job seekers.
The first step towards creating people with skills has been underway with a revamped education system. Technical education has been the most benefited as students are taking admissions into technological colleges to pursue courses in engineering and other technology subjects.
With a number of management colleges extending different types of industry oriented courses, the students are gaining managerial training in the college levels. These students of technical competence are passing out each year, in hordes. Over the past decade or so, the private companies have been eyeing the Indian economy for a foothold to bring in their bases to India.
Every field starting from pharmaceutical to iron and steel majors are looking at the talent pool in India to set up bases. These companies have brought a significant solution and hence a reduction in the job seekers number. Much of it can be credited to the liberal policies of the government which is allowing the opening up of companies in the various states.
With manpower easy to come and skills possible to be utilized properly, companies all over are hiring people from any place they can, as long as they are finding the right people. And finding the right people is not a problem in such a large population of India. This has made the job creation more and number of job seekers is decreasing.
Much of this concept is being seen because of the large companies that are coming into India with their rich resources and most importantly, financial backing. This trend has been further aided by the small companies and firms in India which have realized that they can contribute in a small way make a big difference. Students who have passed out from colleges in India are taking steps to bring out their own companies in various fields.
Management graduates from the IIMs and IITs are opening up their companies and generating employments. Techies with experience in foreign and Indian companies are leaving their lucrative jobs to make firms in different arenas. Starting from hotel industries to the software businesses, every trade is being exploited to extract a form of employment.
Although, presently most of the entrepreneurs are getting themselves associated with the IT and computer industries, there is a huge potential in other areas also where people can start their own companies to be able to employ prospective candidates. It is not surprising that the news of students leaving their jobs and coming out new ideas of business is a regular feature of many journals and articles. These companies by the budding entrepreneurs are making profits in huge amounts or are in the path of making a significant change in the manner in which entrepreneurship is looked at in India.