technology is the second most

Topic: CrimeChild Abuse
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Last updated: December 23, 2019

In thisfast dynamic world, technology is the second most important factor whichgenerates employment, first being the emergence of new ways of ‘white collar’working. The transformation in technology impacts the jobs in both positive andnegative way. The adoption of innovative and exponential technologies isdisrupting industries by creating new markets, as well as weakening ortransforming existing product market categories and industries through productor business innovations.

This research paper provides an overview of theconsequences of technology transformation on employment in India in varioussectors. It studies how the rapid embracing of these exponential technologiesby Indian companies has highly transformed unorganized sectors, such astransportation, maintenance, food catering, and software development services,into organized ones. It represents how the skills that required manual andphysical strength have now transformed into those of process handling andtroubleshooting; and also highlights the future of jobs in India in the coming5 years by adoption of new technologies.  Accordingto the report by McKinsey, the adoption of 12 empowering technologies by India,could contribute to $550 billion to $1 trillion of economic impact per year inIndia by 2025. This is around 3-6 times the current economic value of Indian ITand IT enable services and 20-30% of India’s incremental GDP from 2012-2025.Around 19-29 million workers (5-8% of India’s nonfarm labour force in 2025)could be negatively affected by technology and would need new employmentopportunities and skill training out of which 6-8 million will be in routineclerical , customer service and sales area, while 13-21 million inmanufacturing, trade and transport and construction area.To sumup the overall landscape of Indian employment has benefited from the technologytransformation, specifically for medium and high skilled workforce.

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