INDIA’S economic growth has been the centre of attention globally, and a steady rise in GDP growth could position us as the fastest growing major economy in the world. However, this has largely been a “jobless growth”—relying on pure optimism, governmental reforms and initiatives that seek to cash in on our demographic dividend. We have all the strategic ingredients necessary to bring about focused growth from an economic standpoint, so what’s missing in this near-perfect recipe for sustained development? It’s the execution.
Real growth lies in enhanced productivity and increased revenues that will come about only by creating meaningful jobs for the estimated 100 million millennials who will dominate the Indian corporate scenario over the next 15 years. As India gears up for a major economic upswing, it will be interesting to review the current scenario from a recruitment perspective, and how this heightened focus on developing the country’s skilled human capital will impact our economy in the years to come.
(Author is CEO & MD of Randstad India, Dr Moorthy Uppaluri)