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Middle Class will drive the Manner and Type of Jobs Being Created: R Seshasayee
Apr 28, 2017

The middle class will drive the manner and type of jobs being created and the quantum of services is expected to grow, noted Mr R Seshasayee, Past President, CII and Chairman, Infosys. Mr. Seshasayee was speaking at the session on ‘Is India Inc Future Ready: Jobs & Technology’ at the Annual Session 2017 organized by the Confederation of Indian Industry (CII).

 

In 10-20 years, technology and social forces will design the future, said Mr Seshasayee. India will not be a leader but reactive in both. In terms of technology, he stated that developing economies are more keen to take up new technologies. India scores higher on entrepreneurship than China but its education system does not promote entrepreneurship. Artificial intelligence and automation will displace low skilled jobs and higher skills will be required, said Mr Seshasayee.

 

Mr Patu Keswani, Chairman & Managing Director, Lemon Tree Hotels, talked about abysmal levels of governance in India, and growing social unrest. In terms of pyramid of skilled persons, the disabled occupy the bottom of the pyramid followed by approximately 220 million Indians living on two dollars a day, he stressed. The travel and tourism sector accounts for 10 percent of employment and this sector can employ both the unskilled and marginally skilled. The private sector has to have a social objective, he said, observing that his company would employ more differently-abled people.

 

Dr Janejaya Sinha, Chairman – Asia Pacific, The Boston Consulting Group India Private Limited,  stated that India was not ready, never was ready and never will be ready but India survives. India was the second best performing economy from 2000-2015. While education, healthcare and other areas are abysmal, technology gives an opportunity to fix all these faster. Technology must be imagined and bet on, going forward. The political system has to reorient itself to address the concerns of today’s Indians. The lines between Industry 4.0 and Service 4.0 are blurring, he said.

 

Ms Rumjum Chatterjee, Group Managing Director, Feedback Infra Private Limited, mentioned that there are four factors affecting India - slowdown in global trade, disruptive digital technology, disruptive digital service and rising nationalism and protectionism. There has been jobless growth and there is a fear of redundancy of low skilled jobs due to technology.

 

New Delhi

April 28, 2017

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