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India will also see a dramatic acceleration of Fintech and digital government services. (Representative image)
India is a world leader in technology skills. So there will be a larger emphasis on AI in India.
Skills are like tiny sparks that ignite your passions. Whether it’s coding, designing, writing, or anything else that makes your heart sing, honing your skills will take you deeper into that world. Get ready to lose yourself in creativity, self-expression, and pure joy.
That’s what you get when you invest in learning! These skills make you a valuable asset in the job market, opening doors to exciting careers and financial independence.
Mohan Kannegal, CEO, India and APAC, Emeritus, shared insights with News18.com on the key skills for the Indian workforce in 2024.
Edited excerpts;
What are the key trends driving the demand for certain skills in the Indian workforce in 2024?
I think the world has been hugely impacted by Artificial Intelligence, Sustainability & Decarbonisation, and Geopolitics’ impact on supply chains. The AI revolution is brand new. The thrust on sustainability has accelerated and geopolitics has become important since it hugely impacts our supply chains. This impact will demand new-age leaders who will need to learn these skills in addition to the conventional leadership skills that are required.
How can Indian workers prepare themselves for the skills demanded by the 2024 job market?
India is a world leader in technology skills. So there will be a larger emphasis on AI in India. Also as the organised sector’s contribution to the Indian economy increases, the need for formal CXO skills becomes important.
India will also see a dramatic acceleration of Fintech and digital government services. These will feed into a rapid digitisation of all value chains. So India will be more AI, CXO, Fintech, and Digital versus other markets.
What are the specific skills that will be in high demand across various sectors of the Indian economy in 2024?
I think the manufacturing sector will be hugely impacted by electrification – electric cars, buses, two-wheelers, and the entire electrification supply-chain including batteries, charging points, green energy etc.. The IC engine to electric motor shift is key to manufacturing.
In the services sector, I think AI and Digital will be the most important impact. For public sector employees, the key will be digital citizen services and sustainability. The government is pushing hard on the sustainability front and there will be a thrust on decarbonising the economy via policy.
The banking sector will be transformed because of fintech and government digital services. If eKYC, Digi-locker, and digi-yatra reach the scale of UPI, we will see a revolution in credit in India. The banking sector may finally see an India where virtually every Indian can be a customer for credit.
How can employers effectively attract and retain talent with the right skills in the Indian workforce for 2024?
I think employers will have to demonstrate their AI investments, their sustainability missions, and their resilience to geopolitical impact if they want to attract talent. Talented employees will want to join employers who are making the right investments in these areas.
What role can educational institutions and training providers play in equipping the Indian workforce with the skills needed for the 2024 job market?
The role of education providers remains the same – upskill people with what the market will need in 2024 and beyond. This would mean that training providers must offer courses in AI, Digital, Sustainability, supply chain resilience, and for CXOs in an economy that is increasingly digital and organised. This would mean they have to upgrade their own content and faculty to stay relevant. They will also have to evolve policies to manage the situation where students harness generative AI while they study.
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