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Tuesday, November 08, 2005
Manjeet Kripalani writing on the the shortage of talent quotes L&T chairman Anil Manibhai Naik as saying - "Everyone is growing fast, and India is facing a talent shortage." As she writes, enterprises across the world are rushing to take advantage of the country's cheap and abundant labour force. But now India's domestic growth is taking off, creating unprecedented demand for workers with the right leadership and technical skills. "The engines of the services and manufacturing sectors are going simultaneously, and that's creating the shortages," says Shirish Sankhe, a partner with consultancy McKinsey & Co in Mumbai. Multinationals - from Pepsico and General Electric to Citibank and Accenture - are a part of the problem. As they seek to tap into India's growth, they have helped fuel an explosion in wages, especially in the tech and outsourcing sectors.For years they have offered Indians top salaries, opportunities to work abroad, and prestigious credentials, but as both domestic and foreign companies push deeper into new areas such as retail and industrial engineering, the bidding for qualified labor is heating up. Today, salaries for senior managers at some Indian companies nearly equal those at multinationals.
Category :India |
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