The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
N Adarsh Varma, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur.
The Prime Minister of India, Sri. Narendra Modi has taken initiatives to boost India’s Economic Growth by building Smart Cities, by reducing travel time between cities by proposing Bullet Trains, by transforming India into the World’s manufacturing Hub. The initiatives like Make in India and Smart Cities are expected to contribute to this development of the nation by creating an employment opportunity of 5 lakh new jobs in FY17.
This increase in the demand for the new employees can increase the salaries up to Rs 1 crore plus for the leadership roles and this has also been confirmed by Manpower Group India, Kelly Services and Team Lease Services. It can be expected that the salaries for the top level and mid-level employees can increase by around 30%.
It is expected that 16 lakh jobs are created by 2020 in order to complete the new initiative projects across all the sectors. It is expected that nearly 9 million new project management roles would be needed by 2020 for the Delhi- Mumbai Industrial Corridor development project.For the projects like e-governance, smart cities, and digitization, the government is engaging many consulting firms which is creating a pressure on these firms to recruit young talent employees at all levels.
Rachna Mukherjee, the chief HR at Schneider Electric India, who is hiring project managers in power, oil and gas, renewable energy, industry automation, buildings, residential and energy management has mentioned that “Make in India campaign is definitely a trigger for creating additional avenues for project execution and project managers”.
From the above observations we can expect that the new initiatives like Make in India and Start up India are likely to create huge employment opportunities in the near future.