Workforce Planning
India shines
Shalini Shukla 18 Apr 2012
In the last two decades, India has gone from being one of the least globalised economies in the world to one of the most dependent on international commerce.
“Our markets are more open, we enjoy a wider range of consumer items than ever, and those who go abroad (far more than ever before) finance their travel expenses with foreign exchange,” says Shashi Tharoor, elected member of the Indian Parliament from the Thiruvananthapuram constituency in Kerala and former Minister of State for External Affairs. “Business process outsourcing has (also) tied large numbers of Indians to foreign work environments and business partners.”
This year, India is poised to over take Japan as the third largest economy in the world, based on purchasing power parity. James Agarwal, consulting director and head – India, BTI Consultants, a part of Kelly Services, says that main growth drivers seem to be a variety of internal and external factors, including investment-friendly public policies and regulations. “India has also successfully raised its aggregate savings rate to levels that would allow sustained high levels of domestic capital formation, in turn helping high growth,” says Agarwal.
While India’s economy is one of the world’s most dynamic, corruption, sloppy standards, a lack of decent staff and too much red tape are common gripes amongst businesses. Prince Augustine, EVP – Human Capital at Mahindra & Mahindra, says there is much to be improved. “The potential of India has not been fully tapped in terms of its resources and people capability,” he says. “There is ample scope for growth looking at the vast expanse of the country, its population and rich cultural heritage.”
The country’s labour force is one to be reckoned with. It boasts the world’s largest labour pool, with 270 million entering the workforce over the next 20 years, says McKinsey & Company. It also has the world’s youngest workforce, with 70% of the population
Shalini Shukla 18 Apr 2012
In the last two decades, India has gone from being one of the least globalised economies in the world to one of the most dependent on international commerce.
“Our markets are more open, we enjoy a wider range of consumer items than ever, and those who go abroad (far more than ever before) finance their travel expenses with foreign exchange,” says Shashi Tharoor, elected member of the Indian Parliament from the Thiruvananthapuram constituency in Kerala and former Minister of State for External Affairs. “Business process outsourcing has (also) tied large numbers of Indians to foreign work environments and business partners.”
This year, India is poised to over take Japan as the third largest economy in the world, based on purchasing power parity. James Agarwal, consulting director and head – India, BTI Consultants, a part of Kelly Services, says that main growth drivers seem to be a variety of internal and external factors, including investment-friendly public policies and regulations. “India has also successfully raised its aggregate savings rate to levels that would allow sustained high levels of domestic capital formation, in turn helping high growth,” says Agarwal.
While India’s economy is one of the world’s most dynamic, corruption, sloppy standards, a lack of decent staff and too much red tape are common gripes amongst businesses. Prince Augustine, EVP – Human Capital at Mahindra & Mahindra, says there is much to be improved. “The potential of India has not been fully tapped in terms of its resources and people capability,” he says. “There is ample scope for growth looking at the vast expanse of the country, its population and rich cultural heritage.”
The country’s labour force is one to be reckoned with. It boasts the world’s largest labour pool, with 270 million entering the workforce over the next 20 years, says McKinsey & Company. It also has the world’s youngest workforce, with 70% of the population