Logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. The resources managed in logistics can include physical items, such as food, materials, animals, equipment and liquids, as well as abstract items, such as manage time, information, transport unit Pricing & Quantity , particles, and energy.
The logistics of physical items usually involves the integration of information flow, which is material handling, production, packaging, inventory, transportation, warehousing, and often security. The complexity of logistics can be modeled, analyzed, visualized, and optimized by dedicated simulation software
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
The Boston Consulting Group and Retailers Association of India published a report titled, ‘Retail 2020: Retrospect, Reinvent, Rewrite’, highlighting that India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanization and attitudinal shifts.
The report adds that while the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 per cent.
Retail spending in the top seven Indian cities amounted to Rs 3.58 trillion (US$ 57.6 billion), with organized retail penetration at 19 per cent as of 2014. Online retail is expected to be at par with the physical stores in the next five years.
India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. India’s e-commerce market is estimated to expand to over US$ 100 billion by 2020 from US$ 3.5 billion in 2014.
The Indian IT Hardware and Electronics market is segmented product wise into seven broad categories namely, Consumer Electronics, Controls, Instrumentation & Industrial Electronics, Electronic Data Processing (IT Hardware), Communication & Broadcast Equipment, Strategic Electronics and Electronic Components.
Unlike the Software Industry, Indian Electronics and IT Hardware industry is not able to take the advantage of available manpower as this Industry is highly dependent on skilled human resource (viz. entrepreneurs, managers, technologists, skilled workers) who would facilitate/carry out Research & Development resulting to innovation and product diversification through technology up gradation, cost effectiveness and quality control. The inadequacy and inefficiency of infrastructure viz., roads, ports, high cost of electricity etc., is a deterring the productivity and competitiveness of the Indian Electronic manufacturing industry as the industry is generally dependent on import of raw material and components.
Lack of technology is one of the most important factors contributing to low level of competitiveness in Indian electronics and IT hardware industry. Due to low level of technical research and development, Indian industry is dependent on technical know-how of advanced countries like USA, Germany and Japan. Further in this sector, continuous innovations are leading to rapid changes in design and technology that give a competitive advantage in terms of cost, speed and quality. In the absence of economy of scales, Indian organizations find it unviable to procure and continuously upgrade the technology and machinery.
It is further noted from the survey that employment has grown in 63.3% of IT hardware and electronics firms whereas increase in casual labour is reported by 31.3% of firms. Demand growth for Indian IT hardware and electronics is reported for both domestic and export market.
Indian Telecom has emerged as one of the greatest economic success stories becoming the 2nd largest and fastest growing market, registering a consistent overall growth rate of more than 35% over the past decade.
Further, the annual mobile handset sales are expected to cross 200 million units mark this year and India is fast becoming a manufacturing hub for Telecom infrastructure equipment.
With m-governance, m-commerce, m-education, m-health, online shopping, m-gaming, m2m communications & many such new innovations, Telecom is set to increasingly permeate the lives of common Indians in coming years. This dynamic sector, employs close to 2.8 million people directly and almost another 7 million indirectly, making it one of the largest employment generating sectors in the country.
Banking, Financial Services, Insurance (BFSI) is one of the fastest growing sectors of Indian economy. A combination of strong national growth, better financial systems and demand for customized financial products has meant that the need for skilled financial planners has increased manifold. With demand at entry levels in the tune of lakhs, financial planning has become an attractive area for career growth and development. The industry is stated to grow to 200 trillion by 2020.
"A skill-gap analysis shows that 1.01 million is the additional workforce requirement between 2017 and 2022," says Dilip Chenoy, MD & CEO of National Skill Development Corporation (NSDC)
Skill Sets Required: Understanding of insurance domain and products, Understanding of financial concepts, Documentation and compliance knowledge, Selling skills, Relationship management skills, Communication and motivation skills.
The job requirement in IT/ITES sectors are growing rapidly. It necessitates in creating more professionals for this opportunities. There is an acute shortage of highly skilled and semi -skilled laborers in every sector. Most of our educational institutions are in the primary stages of the development. This has worsened the situation.
India is expected to be home to a skilled workforce of 500 million by 2022. About 12 million persons are expected to join the workforce every year. This talent pool needs to be adequately skilled. The following sectors are expected to drive the growth of the economy as well as play a significant role in employment.
India is the world's largest sourcing destination for the information technology (IT) industry, accounting for approximately 67 per cent of the US$ 124-130 billion market.
The industry employs about 10 million workforce. More importantly, the industry has led the economic transformation of the country and altered the perception of India in the global economy. India's cost competitiveness in providing IT services, which is approximately 3-4 times cheaper than the US, continues to be the mainstay of its unique selling proposition (USP) in the global sourcing market. However, India is also gaining prominence in terms of intellectual capital with several global IT firms setting up their innovation centers in India.
The IT industry has also created significant demand in the Indian education sector, especially for engineering and computer science.
The Indian IT and ITeS industry is divided into four major segments – IT services, business process management (BPM), software products and engineering services, and hardware.
India, the fourth largest base for new businesses in the world and home to over 3,100 tech start-ups, is set to increase its base to 11,500 tech start-ups by 2020, as per a report by Nasscom and Zinnov Management Consulting Pvt Ltd.