New Delhi: A higher percentage of women than men have been found to be employable in India yet again, according to the India Skills Report 2022, which was released Friday.
It also says that the sectors in which the most hiring will take place are IT, pharmaceutical, e-commerce, and banking, financial services and insurance (BFSI). These sectors are expected to hire 20 per cent more fresh graduates in 2022 than in 2021.
The annual report examines hiring patterns and skill distribution in the country with an eye on the future. It uses an aptitude test to measure the employability of Indian youth.
The yearly report is released by Wheebox, a talent assessment platform, in association with the All India Council for Technical Education (AICTE), the Association of Indian Universities (AIU), the Confederation of Indian Industries (CII), and other agencies.
This year’s report is based on responses gathered from an assessment of 3 lakh candidates across India who took part in the Wheebox National Eligibility Test (WNET), and a report from the India Hiring Intent Survey that covered 150 corporations spanning more than 15 industries and sectors.
It says the pool of employable women is steadily increasing. This stands at 51.44 per cent for 2022, compared to 41.25 per cent in 2021. The 2022 figure for men is 45.97 per cent, against 34.26 per cent in 2021.
According to the 2022 report, 46.2 per cent of skilled youth overall were found to be highly employable, compared to 45.97 per cent in 2021.
In a new trend that has emerged this year, 88.6 per cent of graduates were found to be seeking internship positions within organisations.
Employable graduates, new professions, growth of cybersecurity
According to the report, among the surveyed students and aspiring professionals, “BTech graduates and MBA graduates were found to be the most employable talent from the various domains”.
It found that Maharashtra, Uttar Pradesh, Kerala, and West Bengal were identified as the regions with the most employable youth talent.
The report has also drawn up some insights on emerging skill areas in the future. “According to research conducted by the World Economic Forum (WEF), it was identified that 65 per cent of children entering into their primary school years will go on to take up work in domains that are currently non-existent,” it says.
It adds that some emerging trends have been added in the report that will urge prompt and definitive action.
Indicating that new professions will emerge in the areas of machine learning, artificial intelligence (AI) and robotics, the report says, “Currently, up to 29 per cent of all current tasks are performed by machines, robots, AI and algorithms. This percentage is going up and expected to cross 42 per cent by 2022, and exponentially grow faster to 52 per cent by 2025.”
It adds, “The new occupations that emerge will be responsible for creating a balance between human work and machine work.”
The report also talks about the importance of data in the coming days and says, “Cybersecurity is key to the digital transition.” It highlights the need for qualified network engineers and cybersecurity professionals in the future.
Demand for such professionals is expected to grow exponentially over the next four years. “In India, the cybersecurity market is expected to grow at an unprecedented rate. From an initial evaluation of Rs 140 billion (Rs 14,000 crore) in 2019, the increased digital adoption is expected to propel the cybersecurity valuation to Rs 290 billion (Rs 29,000 crore) by 2025,” it adds.
(Edited by Rohan Manoj)