India's Workforce to Grow by 33.89 Million by 2028, with Significant Job Creation in Tech and Retail
Team Finance Saathi
14/Nov/2024

What's covered under the Article:
- India's workforce to grow by 33.89 million by 2028, creating new opportunities across tech and retail sectors.
- Emerging technologies like AI and data engineering expected to drive job creation in India.
- Key sectors like tech, retail, manufacturing, and healthcare to see substantial job growth by 2028.
India’s workforce is set to experience significant growth over the next few years, with projections showing an increase from 423.73 million in 2023 to 457.62 million by 2028. This 33.89 million-strong expansion is expected to fuel a wave of job creation, particularly in the growing sectors of technology, retail, and manufacturing, as well as in healthcare and education. According to a recent report by ServiceNow, this increase in workforce numbers aligns with ongoing economic growth and technological advancements across various industries. The report highlights how these changes offer an opportunity for workers to upskill and embrace roles that will define the future of work.
In particular, the retail sector is expected to see a surge in demand for skilled professionals, especially in the areas of Software Application Development and Data Engineering. The technological revolution taking place in retail, driven by artificial intelligence (AI) and big data, is opening up new possibilities for workers with advanced skills. This trend aligns with the global shift towards digital transformation, where companies are increasingly relying on software solutions and data-driven strategies to streamline operations and enhance customer experiences.
Technological advancements are set to play a crucial role in this workforce transformation. As industries across the board continue to adopt AI, machine learning, and other cutting-edge technologies, the demand for technical roles will skyrocket. The tech industry alone is projected to create 2.73 million new jobs by 2028, a significant portion of the total job creation forecasted for India. Emerging technologies, such as generative AI, are expected to particularly impact jobs in areas like AI Systems Engineering and implementation consultancy, allowing workers to automate repetitive tasks and focus on strategic decision-making and problem-solving.
Sumeet Mathur, Senior Vice President and Managing Director of ServiceNow India Technology and Business Center, emphasized the importance of developing technical expertise, especially in AI and related fields. As the global tech economy grows, India’s workforce can strengthen its position by adopting these essential skills. Roles in AI and data engineering will become more critical, and professionals in these areas will see increased demand. Generative AI, in particular, is expected to revolutionize tasks, making professionals more efficient and productive by automating mundane activities, allowing them to focus on high-value initiatives that drive business growth.
The rise of AI is also seen as a key factor in creating new job opportunities in India. As AI technologies continue to evolve, they will transform sectors like manufacturing, healthcare, and education, making them more efficient and creating new jobs in the process. For instance, AI-driven tools will improve decision-making in manufacturing, enhance patient care in healthcare, and create personalized learning experiences in education, resulting in more job opportunities for skilled workers across these industries.
India’s job market is on the cusp of a major transformation. With the expected rise in demand for highly skilled professionals in tech, retail, and other industries, the workforce will need to adapt to meet these challenges. This presents an opportunity for workers to upskill and position themselves for success in the rapidly changing job market.
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The future of work in India is bright, and with the right skills, workers can seize the opportunities presented by technological transformation and economic growth.