Post globalisation era in greater mumbai june 2006 efi – solar foundation mumbai
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POST GLOBALISATION ERA IN GREATER MUMBAI JUNE 2006 EFI – SOLAR FOUNDATION MUMBAI INDEX EMPLOYMENT GENERATION IN GREATER MUMBAI
EXECUTIVE SUMMARY MUMBAI – OPPORTUNITIES GALOREMumbai’s prosperity and employment generating potential attracts migrants from across the country. Once a textile manufacturing hub, the city's socio-economic structure has witnessed a sea change due to a paradigm shift in business activities – a switch from ‘manufacturing activities’ to ‘services’. This has resulted into a dramatic change in employment opportunities and job profiles in virtually every sector. In the changing scenario, we look at the employment trends in important sectors like: Financial, Construction, Tourism, IT, Telecommunication, Courier Services, Entertainment, Shops, Automobile Garages and Photo Copy Centre, which is expected to provide huge employment opportunities, both direct and indirect, over the next five years. In brief, we present to you the findings of each of the above mentioned sectors, which is as follows: FINANCIAL SECTORAs per the research study undertaken by an international organisation, Mumbai is said to have an edge over Shanghai to emerge as the ‘Financial Centre of Asia’ because of its strong and organised financial infrastructure. It is estimated that 90 per cent of all merchant banking transactions and 70 per cent of the total investment in mutual funds take place in the city. Moreover, 16-18 per cent of the overall banking sub sector GDP in the country is estimated to be generated in Mumbai. Now, aggressive marketing on the part of banks and financial institutions, over the last decade, has resulted into creation of several dynamic product/service delivery channels, which in turn have created several openings for skilled/specialised people. Over the last few years, the sector has witnessed a gradual switch from ‘manual’ to ‘mechanised’ system of working, which in turn has brought about significant change in job profiles pushing financial companies to conduct massive re-skilling of their existing employees. Furthermore, the infusion of technology and stiff competition has created several openings for ‘savvy frontline’ and ‘efficient backend’ personnel. In short, most financial institutions are now focussing on recruiting multi-skilled, technically sound and customer-friendly personnel to drive their businesses. The city has witnessed a phase of restructuring and downsizing by PSUs and cooperative financial units, and over the next five years expects several mergers and consolidations resulting into further job cuts. Though the sector has witnessed a visible drop in direct employment (VRS schemes), there has been a sharp rise in indirect employment figures (contracting services). Of late, the drop in direct employment has been largely on account of companies investing heavily in technology, resulting also in increase in indirect employment (via DSAs, franchisees, courier services, etc.) has been in the area of marketing, sales, customer service and logistics. The concept of people-free banking and marketing approach - Internet banking, tele-banking, ATMs, online marketing of product and services, etc., adopted by the companies are likely to further reduce the level of human participation in transaction processing. As for changing in job profiles, the sector is witnessing a paradigm shift – a rise in demand for MBAs, CAs, CFAs and other post-graduate finance specialists as against conventional college graduates seeking employment a decade ago. As far as non-graduates and graduates are concerned, they still continue to find employment (indirect) with distributors and marketing agencies. On the other hand, the increased use of IT has created demand for IT personnel at every level, not to mention newer specialisations which weren’t existing just a decade ago, for instance specialist in data warehousing, data mining, database architects, and other integrated backend operations. Directory: reports reports -> Charter School Enrollment Data Annual Report reports -> Request for Proposal [insert date] reports -> Government of India Ministry of Communication and it department of Telecommunications reports -> Government of India Ministry of Communication and it department of Telecommunications reports -> 1. 2 Authority 1 3 Planning Area 1 reports -> Pricing Closing Price $3,578 (June 22) 52-Wk High $3,825 52-Wk Low $2,982 Market Data reports -> Work performed under agreement reports -> Comet Aircraft – The Worlds First Jet Airliner Fatigue Failure Background reports -> Management and functional review ministry of transport and aviation Download 2.03 Mb. Share with your friends:
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