19 October, 2020


It's raining jobs in the services sector, but only the urban educated get it

Sanjoy Ghosh
It won't be wrong to say that even India's employment story began only after 1991. Before reforms, jobs happened fairly regularly only in the organised public sector. Once liberalisation kicked in, the private sector emerged as a lucrative alternate employer, salaries shot north, job security went out of the window and words like downsizing and VRS became popular.

Slowly agriculture stopped being the predominant source of employment even for the poor. In the urban areas, MNC jobs and dollar salaries became a happy reality. The information technology boom birthed sunrise industries with big employment potential. Falling interest rates and easy credit together with the impact of globalisation on the secure tenure of employment helped the entrepreneurial spirit to flourish too.

If there is one industry that has been shaken and stirred by liberalisation, it is the hiring industry. For better and worse, the job market today is far more dynamic and competitive than ever. One enthusiastic headhunter, who's predicted that the white-collar urban job market will grow at a...


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