16 lakh jobs in healthcare, hospitality, IT
A study by Assocham - Emerging opportunity in rising sectors - indicates that the gloomy economy has not affected healthcare, hospitality, IT and IT-enabled services, and media and entertainment sectors. They are expected to have Compound Annual Growth Rate (CAGR) of 20-25% and add 16 lakh new jobs to the market by next year.
The hiring is taking place at all levels. Healthcare sector is leading the hiring scenario and it may add 4.5 lakh jobs in 2012-13. IT and ITes is expected to add 3.8 lakh jobs, followed by the tourism and hospitality industry which might add 3.7 lakh jobs by next year. Media and entertainment industry is expected to create 3.5 lakh new jobs.
Campus hirings at engineering and management colleges for these sectors are showing a positive trend too, which is expected to continue for another six to twelve months.
By 2025, India’s population will be 140 crore. 45 per cent of these will be urban adults. Healthcare sector which currently has estimated revenue of about Rs 2.5 lakh crore (about 5% of GDP) will need to grow to a size of about 55,000,000 crore rupees (8 per cent to 10 per cent of GDP) to cater to this population. At present, Kochi is the leading employment source in the healthcare sector by hiring 34.20% professionals followed by Coimbatore (12.70%), Bangalore (6.12%), Delhi-NCR (6%) and Hyderabad (4%) during April 2011 to April 2012. Medical tourism, diagnostics and pathology are also growing in this sector.
Fuelled by increase in and domestic tourism and depreciation in rupee, tourism in India will grow by 12 per cent in one year. Tourism and hospitality industry is expected to create 2.45 crore jobs by 2016.
However, segments like finance, aviation, real estate and textiles are facing the heat these days and are not doing so well on the job-creation front.
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