The Indian economy is the ninth largest in the world in terms of nominal GDP (Gross Domestic Produce) and is also a part of the G-20 major economies. The basic sectors of Indian economy are the agriculture, industry, banking and finance, energy and power and services.The agricultural sector is the largest source of employment in the country and employs about 50% of the total workforce. The second largest source of employment after agricultural sector is the textile industry which employs around 20 million people. Out of the total Indian workforce, 14% is employed by the Industrial sector which accounts for 28% of the GDP. The service sector employs 23% of the total workforce and accounts for 55% of the GDP.
INDUSTRY AND SERVICE SECTOR
The business process outsourcing (BPO) and IT industry are counted as the fasted growing industries and thereby have huge job potential. BPOs offered maximum job opportunities in the year 2011. The contributions made by tourism industry especially medical tourism, health-care, mining, education sector etc. are also significant and their growth has led to an increase in job opportunities. Other than these industries, the franchise industry has also been able to create significant amount of job opportunities. The Indian population being entrepreneurial in nature serves as one of the largest franchising market.Statistical data suggests that this industry generates about 8.5 lakh job opportunities annually. The Planning Commission of India is targeting to create over 100 million jobs in the manufacturing sector by the next 15 years.
JOB OPPORTUNITIES IN CITIES
It was noted in a study that in 2010 Mumbai offered maximum job opportunities and in 2011 it was New Delhi. The job opportunities were majorly in the IT and related sectors. In both the years the Silicon Valley of India, Bangalore ranked third followed by Chennai. It has been recorded that Tier-1 cities create maximum job opportunities, about 76%. The tier-2 and tier-3 cities are also not far behind; these cities have shown a tremendous growth in job creation showing maximum employment opportunities in the financial sector. Among tier-2 cities Pune followed by Lucknow and Pondicherry proved to be the lead job providers. Among the tier-3 cities Ranchi was ranked with maximum employment in the IT sector(17.8%) followed by Mangalore and Mysore.
BEST CAREER OPTIONS IN THE FUTURE
BEST CAREER OPTIONS IN THE FUTURE
Even with emerging career options, some old careers remain highly in demand. Careers in health care, information technology, biomedical engineering, accounting, marketing, etc. are some of the career paths that are sure to continue successfully in the long run. With the heightened demands and limited resources alternate ways of satisfying demands need to be discovered. This need for alternate resources and sustainable development has led to the rapid growth of employment and opportunities in the field of Green Technology. Careersfocusing on waste management, bio-fuels, wind energy, geothermal systems etc, are sure to grow by about 30%. Given that India has one of the largest a education system in the world, a significant growth in education sector can be expected.
According to the pay scale, the high paid jobs are in the field of medicine, IT, management, aviation, accounting, SAP(System Applications and Products in Data Processing) consultancy, law, sports, modelling and the oil and natural gas sectors.