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  • Sep 24, 2020

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Job Creators can Save the Day for the Indian Economy

Fed on a popular notion, people going weak on their knees for government sector jobs is a common sight at almost every Indian household, mainly because of the job security it provides. Although in the last few decades, corporate jobs have also somehow managed to enter the list of preferable job options, the obsession for government jobs is still pretty unwavering among the masses. However, the reality is, considering the size of the existing working population, and the next generation in queue, it is almost impossible for any government to create jobs at such a large scale. That draws all attention to the next viable option, which is to encourage the entrepreneurial spirit within young Indians, and job creators, rather than job seekers. Interestingly enough a country, which was once largely driven by the spirit of government sector jobs, have in the recent years, managed to pull a 180 degree flip, and turned into the 3rd largest start-up ecosystem in the world.

In fact, from a professional’s point of view, one can also easily notice the massive transformation in the job landscape in India within a span of just 5 years. An increasing number of companies are on a spree to reduce the number of full-time salaried jobs, only to replace them with freelance or contract workers to cut expenses. The job search market is also likely to stay as worrisome as ever. However, there are new opportunities appearing in the horizon, generated by a refreshing change taking place across the world. This new reality has led middle-class Indian parents to become progressive and understand this changing nature of the Indian and global economy. Breathing in this digital world, today’s parents have ensured that their families have a stable income and savings for a comfortable life at place, which left them with the will to allow their children to live their dreams that they themselves could not afford to chase back in their days.

That brings us to the question, what do you think are the most probable factors responsible for this sudden change in the overall mindsets of people around us? If you ask me, there are more than just one major reason that has led to this delayed open-mindedness and a freer atmosphere for the new generation to pursue entrepreneurship, of late.

Firstly, apart from the limited job openings in the government sector, the companies that are once responsible for creating large-scale employment for graduating students, have in the last few years started resorting more and more to cloud and automation. This has led to a lot of jobs in the industry becoming redundant, which means these companies no longer require to hire in bulk. Going forward, as the recruitment downsizes, the students will have no option than to fend for themselves and pick up skills to create opportunities on their own.

Secondly, companies that are hiring, are looking for more than just regular academic brilliance in a candidate. The current job roles require resources who have established achievement credentials, and familiarity with the latest technological advancements. The reason is, considering the high speed in which all the industry operations are evolving, including the automotive and IT sector, it is becoming almost impossible for the traditional academic courses to catch-up with it. Hence, companies in those sectors are trying hard to recruit resources that prioritize self-learning, and comes with updated skill-sets, fast adaptability, hands-on experience in start-ups, and preferably with prior experience in operating their own enterprises.

Finally, everybody is quite well aware of the massive risks associated with new ventures. Starting a company is tough, as it requires a lot of patience, and even strength to face failures. This is perhaps the reason why most Indian parents used to shudder at the thought of their child choosing this difficult path. For the generations that came prior to us, the sole focus was on generating an income as soon as they finish their studies, in order to meet the basic requirements of their family. However, with an improving financial status of most middle class Indian families of the present times, parents are now being more willing to let their children take risks, supporting their children’s dreams, and opening up to new ideas of contributing towards the wealth of the country.

Moreover, start-ups are the new hope for lakhs of fresh graduates coming out of colleges every year, as well as for the economy of the country. By offering a suitable market and highly advanced technology, currently the Indian economy is grabbing the eyeballs as one of the most lucrative options for international investors. Furthermore, it has the world’s largest population in their youthful years, making it the youngest country in the world. It is the golden opportunity for job creators and innovators to do their thing, and set off their ventures once and for all. The time has finally come to overhaul the age old idea of seeking a steady job. The youth of today needs to challenge the outdated concepts, and march ahead to become the precious assets of our country.


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