India is likely to be characterised by an excess labour supply of ~70mn persons in FY20. From a sectoral perspective, even as the Agricultural and Industrial sectors deal with excess labour supply, the Services sector will be characterised by a shortage of adequately skilled workers.
Even if we assume that India’s real GDP continues to grow at a CAGR of 6.6% p.a. from FY17 until FY20, the supply of labour in India in FY20 at ~500mn persons is likely to exceed the number of jobs that the Indian economy can create at ~430mn. The mismatch
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