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ISF projection - Shanmugam IAS academy in coimbatore

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ISF projection

ISF PROJECTION OF EMPLOYMENT

 What’s in news?

ISF projected a creation of new 3 million jobs in next 5 years, which gave a relief too many tech graduates.

 Key data’s:

  • Indian Staffing Federation (ISF), the apex body for the ‘flexi’ working industry said, The Indian tech industry will add another three million new jobs in the next five years.
  • With the additions, the size of the country’s tech army will be 7 million by 2023.
  • All these new jobs would come up in digital technology areas such as artificial intelligence (AI), machine learning, Internet of things (IOT), data science, analytics, big data, blockchain and augmented reality.
  • Jobs would also be created in newer technology areas that are presently unknown but are expected to emerge and evolve in the next few years.
  • The ISF’s tech employment projection comes as a big relief to millions of young techies and software engineering students amid talks of the move towards jobless growth with automation that replaces humans with robots.
  • There is a visible behavioural change happening in the IT and ITes sectors, as India now have about 1,300 captive units. Some 400 new captive units are coming up in 2019. Some 63% of CEOs think that AI would have a larger impact than the Internet and some 39% of them had already started AI-related initiatives in their organisations.
  • Chakraborty President, ISF, mentioned the fact that India does not have a job problem, but it has an employed poverty problem.

Facing a technological change:

  • A robot, with infinite memory analytical capacity, is connected to the cloud. It’s impact on productivity of businesses would be ‘huge’.
  • Staffing organisations in India are going to play a vital role in helping the industry reach this hiring milestone in terms of identifying and sourcing billable talent.

Indian Staffing Federation (ISF):

  • Indian Staffing Federation (ISF) was set up with one common goal – Staffing India’s Growth.
  • The Staffing Industry provides a platform for recognised employment, work choice, even compensation, annual benefits and health benefits for the temporary workforce that constitutes almost 70% of India’s total workforce.
  • Objectives
    • Streamline our legal environment fostering growth of the Industry
    • Establish lasting awareness of ISF amidst key stakeholders
    • Build a representative association

Important links:

http://www.indianstaffingfederation.org/about-isf/

https://www.thehindu.com/business/Industry/india-to-add-3-million-tech-jobs-by-2023/article27084331.ece

https://www.iasipstnpsc.in/13911-2/

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