Blue Collar Jobs To Drive 70% Of India’s New Job Growth By 2030: Report
Blue collar workers, comprising over 80 per cent of India’s non-agricultural workforce, play a pivotal role in driving and sustaining the country’s economy across diverse sectors.
McKinsey & Company forecasts that by 2030, 70 percent of the 90 million new jobs anticipated in India will fall under the category of Blue collar roles.
Blue collar workers form a significant portion of India’s workforce and play a vital role in driving economic growth across various sectors. The increasing demand for skilled Blue collar workers reflects their indispensable contributions to India’s development goals.
The Growth of Blue collar Jobs
McKinsey & Company forecasts a substantial increase in Blue collar job opportunities in India, comprising a significant portion of the anticipated new jobs by 2030. These roles are crucial for sectors like manufacturing, logistics, and e-commerce, contributing significantly to India’s Gross Domestic Product (GDP).
These positions constitute approximately 80 percent of both organized and unorganized sector jobs in India, serving as the primary engine of the economy.
Present Scenario
As of 2024, the hiring intent for non-white collar positions has experienced a 10 percent increase compared to the previous year. E-commerce is anticipated to witness the highest salary growth in 2024, projected at 10.9 percent, followed by financial services with an expected growth rate of 10.1 percent.
Based on data from 2023, blue and grey collar occupations contribute 1.25 percent to India’s Gross Domestic Product (GDP).
Importance of Blue collar Workers
Anshul Khurana, CEO of Entitled Solutions, highlights the critical role of Blue collar workers, especially in sectors like infrastructure, construction, transportation, and manufacturing. Their labor fuels industrial progress and generates employment opportunities, making them essential for economic advancement.
Upskilling and Empowerment
As India focuses on expanding its manufacturing capabilities, the demand for skilled Blue collar workers has surged. Upskilling and empowering this workforce become imperative for achieving developmental goals and sustaining economic growth.
Challenges and Initiatives
Despite their contributions, many Blue collar workers lack access to comprehensive social security programs. Initiatives like the e-Shram database aim to extend social security coverage to unorganized workers, addressing gaps in welfare schemes. However, awareness and implementation challenges persist.
Digital Innovation and Financial Inclusion
Digital innovation plays a crucial role in addressing financial inclusion challenges among Blue collar workers. Startups leverage technology to overcome barriers and provide access to financial services, catering to the needs of the urban poor.
Way Forward
The welfare and empowerment of Blue collar workers are essential for India’s economic prosperity and social advancement. Government initiatives and digital innovations signify steps towards ensuring inclusion and well-being, paving the way for a more equitable and thriving workforce essential for India’s journey towards development.
