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The Great Displacement: How automation is reshaping India’s workforce
- Automation is reshaping India's labour market as it progresses towards becoming a $10 trillion economy by 2035.
- Globally, automation is rapidly replacing middle-skill, routine-heavy positions with sophisticated algorithms and AI technologies.
- Countries like the US, Europe, and East Asia have seen a decline in roles like retail cashiers and data entry clerks due to automation.
- The COVID-19 pandemic accelerated automation adoption as companies invested in technology to replace labor.
- India faces challenges with premature deindustrialisation and automation pressure in sectors like IT services and manufacturing.
- Automation threatens jobs in sectors like IT, manufacturing, business process outsourcing, and agriculture, leading to the need for significant reskilling.
- Automation widens existing inequalities in India, with certain regions and skill sets benefiting while others face diminished prospects.
- Lessons from countries like Germany, Singapore, and Denmark provide insights into adapting to automation through education, retraining, and safety nets.
- India needs to transform its education system, implement targeted safety nets, leverage its strengths, reimagine labor regulations, and focus on the rural economy to address automation challenges.
- Bold, coordinated action is essential for India to navigate the challenges posed by automation and establish a model for developing economies worldwide.
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