Indeed FutureWorks 2023: Amitabh Kant on India’s Job Market and Economic Growth

Curious about the driving forces behind India's economic transformation? At an exclusive session in Indeed FutureWorks Bengaluru 2023, Amitabh Kant shared his thoughts on the digital revolution, job creation, and India's evolving workforce. Read on to discover his vision for a prosperous, inclusive India.

When Indeed brought Indeed FutureWorks to India in 2023, it was seen as a way to equip HR and talent acquisition professionals with valuable insights into the rapidly transforming industry landscape. However, as hundreds of HR professionals and talent experts gathered to discuss the future of work, the need for perspectives from policymakers—those who shape the industry in critical ways—became equally important.

At Indeed FutureWorks Bengaluru 2023, Amitabh Kant, former CEO of NITI Aayog, shared his profound insights on India’s evolving job market, the ongoing digital disruption, and the key drivers shaping the future of employment. In a candid conversation with Sashi Kumar, Head of Sales at Indeed India, Kant reflected on pivotal moments from his career while addressing India’s journey toward economic transformation.

A rewarding stint: Kant’s Role in reviving tourism in India 

When asked about his favourite role among the multiple hats he has donned over the years, Amitabh Kant unhesitatingly picked his role in the tourism sector, both at the state and national level. It was under Kant’s expert leadership as Kerala’s Tourism Secretary that the state was rebranded as God’s Own Country, a campaign that propelled it to National Geographic’s list of 10 exotic paradises in the world. “I wanted to market Kerala for its unique and traditional offerings- Ayurveda, backwaters, houseboats, authentic cuisine, martial arts, dances - and turn it into an upmarket, high-value destination,” said Kant at the session. 

Kant’s work continued at the national level with the iconic ‘Incredible India’ campaign. He recounted how, despite global crises like the 9/11 attacks and the Afghanistan war that devastated tourism, the campaign helped India regain its stature on the world stage. Kant highlighted tourism as one of the largest job creators in India, explaining that for every direct job in the sector, there’s a multiplier effect that generates six additional jobs indirectly.

Digital Disruption: India Leading the Way

In discussing India’s rapidly evolving digital landscape, Kant spoke about the significance of technology as another key job creator. Over the past decade, India’s digital identity ecosystem, from bank accounts linked to Aadhaar to the rise of UPI and fintech innovations, has revolutionized payments and lending. Describing India’s digital economy as the largest in the world, he emphasized how this shift has empowered young startups, expanded financial inclusion, driven innovation, and enhanced convenience. “What makes this disruption unique is its openness—citizens control their data, and public and private sector companies compete on equal footing. This democratization of technology is where India stands apart from the rest of the world,” said Kant.

The Way Forward: Reskilling and Jobs for the Future

Kant also spoke about how India’s future growth must surpass 7% annually to truly meet job creation needs, aiming for a steady 9-10% growth rate over the next 30 years to reach the $5 trillion economy goal. This growth will rely heavily on manufacturing, services, and sunrise sectors like electric mobility and green energy. Focusing specifically on the agriculture sector, he explained that for agricultural productivity to increase, traditional jobs need to be replaced by those of data scientists, product developers, and specialists in AI. “And as the nature of the jobs around us change, upskilling and constant reskilling becomes essential. Higher education, too, must adapt to produce talent that can fuel India’s burgeoning tech and startup scene,” he noted.

While acknowledging the declining participation of women in the country’s labour force, Kant also highlighted government initiatives focusing on women-led development and improved health and learning outcomes. Expressing optimism for future growth, he said, “I foresee in the next 3-5 years is female labour participation in India will sharply grow.” Talking about the impact of increased urbanization, he pointed to the importance of creating sustainable jobs for both men and women moving from rural areas in India's continued growth.

Looking Ahead to Indeed FutureWorks Bengaluru 2024

Amitabh Kant’s session at Indeed FutureWorks Bengaluru 2023 provided valuable insights into India’s future, emphasizing the importance of digital disruption, reskilling, and inclusive job creation. As we look forward to Indeed FutureWorks Bengaluru 2024, these themes remain more relevant than ever, reminding us to embrace change, innovate, and prepare for a rapidly changing future.