The Growing need of Job creators
India is on the brink of immense possibility in terms of economy with the kind of young population it comprises and the immense economic growth it has seen in recent years. It is the youngest country in the world with the world’s largest youth population. India is currently enjoying a “demographic dividend”, which means it has more labour force than the population dependent on it. But this scenario also brings a lot of challenges with itself as larger the workforce, larger the requirement for jobs for them. It has been a common notion among Indians to find jobs preferably in the government sector because of the job security it provides or else move to the corporates, though this mind-set is changing with time. It’s not easy for any government to create jobs at a such large scale considering the existing working population and the next generation coming in. So the next viable option is to encourage people to become job creators not job seekers.
Driven by technology and a prodigious market the Indian economy has been at the core of attention and a lucrative option for investors. It is a positive news for the country that today’s youth want to become entrepreneurs and it is evident from the last year’s startup data which tells that more than 1200 new startups came up last year taking the total to 7200 . Startups saw a 108% growth in funding last year and created more than 40,000 new direct jobs and three fold increase was seen in indirect jobs. Though these are positive signs going ahead but we are far away from our goal. There was continuous decline in the seed stage funding for the startups which means the innovation falls at the seed stage and finds difficult to grow.
We need to overhaul the system of job seeking and encourage students to become job creators and innovators. They should be taught to challenge status-quo, take risks and innovate as opposed to just look out for a steady job.
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- The Growing need of Job creators - June 29, 2019