The IT Sector in the country is likely to remain stable till 2020 if the analysis of World Economic Forum is taken into consideration. Although demand for traditional IT professionals is on a decline, attractive employment trends are expected for the upcoming and emerging fields of Data Analytics and Cloud Computing. Though, globally around 5.1 million jobs are on the verge of being lost during the period 2015-20, the demand for new trends in IT like mobile internet etc. would remain stable for the same period. This kind of stability is expected because of the increased demand of the digital technologies in today’s times. It is reported that in India, the traditional IT jobs will decline at the rate of 0.38% annually during 2015-2020, whereas growth in the mobility segment is expected at 1.15% during the same 5 year period. As per the report, “Strong employment growth in the computer and mathematical jobs family, covering both traditional IT work and disruptive digital technology, will be driven by trends beyond technology”.
Category Archive: Economy watch
The impact of such weak rupee is that it affects not only every sector but also Individuals in the country. Everything becomes costly, since our economy runs on oil so increase in oil prices raises price of every necessary thing, started from travelling to food items to, steel prices, everything that runs on oil. Inflation will reach another height and so is cost of living.
Travelling abroad becomes very costly which includes travelling expense, hotel expense, etc can hike up by 15%. Students studying abroad for higher education are also affected as they have to pay more course fees, travelling, accommodation, etc. Imported electronic items and services also become expensive.
Advantages of FDI in retail in India:
Growth in economy: Due to coming of foreign companies’ new infrastructure will be build, thus real estate sector will grow consequently banking sector, as money need to be required to build infrastructure would be provided by banks.
Job opportunities: Estimates shows that this will create about 80Lakh jobs. These opportunities will be created mostly in retail, real estate. But it will create positive impact on others secrtors as well.