India Facing Skilled Labor Shortage - A Survey

According to a survey report, while the country’s Sensex ambits the mystic 15,000 levels with the economic system progressing speedily in the direction of a double-digit growth, Indian industry continues to roll under intense shortage of competent manpower.

According to the examination done by the Federation of Indian Chambers of Commerce and Industry (FICCI), which is based on reaction from 20 industrial spheres, in the biotechnology segment alone the shortage of doctorate and post doctorate researchers is a huge 80 percent.

Likewise, the food processing business faces massive shortage of electricians, agricultural researchers, refrigeration mechanics, together with scarcity of certificate holders and people skilled in short-run courses.

The study also foregrounded an obvious workforce crunch in the health division and according to FICCI, intense shortage of doctors is likely more than the next few years, particularly anaesthetists, radiologists, gynaecologists and surgeons.

Large gaps would come into view by the next few years in segments like basic cardiac life support, advanced cardiac life support and advanced trauma life support including shortage of trained nurses.

The survey depicts that in 2006 companies faced an acute shortage in various specialized categories in the banking and finance segment. The segment faces a 90% lack of risk managers, IT experts – 65%, treasury managers – 50%, credit operations experts – 75%, financial analysts – 80%, wealth managers – 80% and economic and planning analysts – 80%.

FICCI stated, “Skill shortages exist across many segments of the industry and economy of the country. We have in fact moved from a position where not only the technically qualified professionals in various streams are in short supply but there also exists an acute shortage of shop floor workers.”

The chamber has recommended both the administration and industrial sector to take prompt corrective action and concentrate on constructing efficient resources to tackle the issue.

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