TALENT SHORTAGE — GLOBAL CHALLENGE, INDIA’S OPPORTUNITY

Copyright infringement not intended Picture Courtesy: THE HINDU Context:  The global labor market is facing a talent shortage, projected to intensify by 2030 due to rapid technological advancements, aging populations, and skill mismatches. Recent Study A FICCI-KPMG study estimates that by 2030, the world will face a deficit of 85.2 million skilled workers, potentially leading to $8.45 trillion in unrealized annual revenue—equivalent to the combined GDP of Germany and Japan. This crisis presents a critical opportunity for India to leverage its demographic dividend and skilled workforce to meet global demand. Key Regions Driving Demand Three regions are particularly critical for workforce mobility: Gulf Cooperation Council (GCC): Demands workers in manufacturing, construction, and healthcare due to large-scale development projects and aging populations. Europe (including the UK): Requires service-sector workers and healthcare professionals to address labor shortage...