India is set to create one in every four new jobs in the world over the next five years. By 2020, this would translate into an extra 200 million jobs, which will be more than that in America, Europe and China combined.
Gone are the days when the young and talented B-School graduates would be content with joining the established and entrenched sectors like Fast Moving Consumer Goods (FMCG), consumer durables, or financial services. The emergence of a slew of sectors, hip and happening, like realty, entertainment, and retailing has just broadened the choices for fresh MBAs. If we keep the huge pay packets aside, the fact that emerges is that this new breed of managers are not afraid of taking plunge into hitherto unexplored areas involving huge challenges, where success is hard to achieve. The spirit and willingness to take the risk shows their mettle, something that is driving the young and aspiring managers to these new sectors.
The real estate sector that has traditionally been a fiefdom of landlords, brokers and masons, is now experiencing the entry of talented youngsters armed with management degrees, unafraid of challenges. With a slew of reforms by the government in recent times, which saw the opening up of the sector for Foreign Direct Investment (FDI) albeit with certain restrictions, has seen the entry of many big companies like DLF and Ansal, which, to a major extent, has played a role in sprucing up the image of the sector. No doubt that the sector has emerged as the second largest employment generator in the country, next only to agriculture. A booming economy—led by sectors such as IT and ITES, biotechnology, telecommunications, hospitality, and retailing to name a few—has created unprecedented demand for commercial space in major cities of the country. |
