Emerging Tech to Create 2.7 Million New AI Jobs in India, Retail to Lead Growth
Team Finance Saathi
14/Nov/2024
What's covered under the Article:
- India’s workforce is set to grow by 33.89 million by 2028, driven by emerging tech and economic expansion.
- Retail sector leads the job growth with 6.96 million new positions, followed by manufacturing and education.
- Tech roles like software developers, AI engineers, and data engineers will see the largest increase by 2028.
According to research by ServiceNow, a leader in AI platforms for business transformation, India's workforce is set to experience significant growth in the coming years, with an estimated 33.89 million new jobs by 2028. This growth is largely driven by emerging technologies, with 2.73 million new tech jobs expected to be created across key sectors, including software development, AI, and data engineering.
India’s workforce is projected to expand from 423.73 million in 2023 to 457.62 million by 2028, indicating a net gain of 33.89 million workers. This surge in jobs will be spurred by the continued technological advancement across industries, with emerging technologies playing a critical role in reshaping the job landscape. Sectors such as retail, manufacturing, education, and healthcare are anticipated to see significant growth due to both economic expansion and technological transformation.
Among the sectors driving job growth, the retail sector is poised to lead, with a projected 6.96 million new jobs. This growth is driven by increased demand for goods and services, coupled with the digitization of retail processes and the rise of e-commerce. The manufacturing sector follows closely, with an expected addition of 1.50 million jobs, fueled by advancements in automation and smart manufacturing. Additionally, the education sector is set to see 0.84 million new positions, and the healthcare sector is forecasted to add 0.80 million jobs, spurred by technological innovations in healthcare delivery.
As industries adopt emerging technologies, there is an increasing demand for tech-related roles across various sectors, especially in Professional, Scientific, Technical Services, Manufacturing, and Telecommunications. Among these roles, Software Application Developers are expected to see the largest increase, with 1,09,700 new positions forecasted by 2028. Systems Software Developers will also experience growth, with 48,800 new jobs expected, while Data Engineers will see the creation of 48,500 new jobs. Additionally, roles such as Web Developers, Data Analysts, and Software Testers are also expected to rise, with job additions ranging from 45,300 to 48,500.
With the rise of Generative AI and other advanced technologies, roles like AI Systems Engineers and Systems Administrators will be heavily impacted, as task automation becomes a major focus. This shift will not only help streamline business operations but will also enhance efficiency and productivity across sectors. As these changes unfold, the demand for workers with expertise in AI, machine learning, and other related fields will soar.
To ensure India’s workforce is prepared for these changes, initiatives like RiseUp with ServiceNow are playing a crucial role in bridging the skills gap. These programs focus on upskilling and reskilling workers to meet the evolving demands of the global tech economy, providing the necessary tools and knowledge to stay competitive in a technology-driven world.
As India moves towards 2028, emerging technologies will continue to shape the country’s job market, creating numerous opportunities for skilled workers in sectors ranging from retail to healthcare. This transformation will not only boost India’s tech economy but also make it a key player in the global digital economy.
For those looking to stay ahead of the curve and explore the latest job trends and investment opportunities, joining the Trading with CA Abhay Telegram Channel and Finance Saathi Telegram Channel can provide you with valuable insights.
Stay updated on IPO opportunities, stock market news, and more by opening a free Demat account with Choice Broking FinX. You can also explore upcoming IPOs and gain insights into investment strategies at Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today and Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News.