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Engineering, telecommunications, healthcare will add 12 million jobs by fiscal year 26: The Tribune India

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Engineering, telecom, healthcare to add 12 mn jobs by FY26


PTI

According to the report, the engineering, telecommunications and healthcare sectors are likely to create about 12 million new jobs by fiscal year 26, largely due to a focus on recovery as well as technology diffusion and digitization in these segments.

A report by TeamLease Digital, a staff unit of TeamLease Services, says that specialized or professional staff with high qualifications and experience will account for almost 17 percent of the total number of jobs created.

The report entitled “Professionals – a report on digital employment trends” is a qualitative study in which more than 750 employers / managers from various sectors of mechanical engineering, telecommunications and health were interviewed.

“The engineering, telecommunications and healthcare sectors are on the verge of transforming Industry 4.0. There is a shift from a central industry management system to one where smart products and processes are at the heart of their business, ”said Sunil Xi, Head of Specialized Personnel, TeamLease Digital. Sunil also said that the Production Incentive Scheme (PLI) and foreign direct investment are causing exponential demand, especially for talents with niche skills in these sectors. “Although overall the number of jobs created by the three sectors together will increase by 25-27 percent, the demand for skilled talent or specialized staff will increase from the current 45,650 to more than 90,000 by 2026 (estimated) by 2026,” he said. Sunil.

The report also notes that conservative estimates put the market in telecommunications, engineering and healthcare at nearly $ 1.5 trillion. Together, they number about 42 million people – about 8.7 percent of India’s total workforce – today and are estimated to create another 12 million jobs by 2026. “It’s not just the demand for talent, the path to recovery and growth has led to a shift in the employment model. The share of contractors has risen from 10-11 percent of total employment to 16 percent. It is expected that by 2026 it will be about 24 percent of total busy.

“In addition, employers and candidates do not hesitate to explore new models such as the concert. The percentage of the concert model will grow by 17 percent by 2023, “said Munira Lalivala, AVP – Engineering and RPO Solutions, TeamLease Digital. independent contractors for one or different employers.

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