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Skilled Manpower
The demand for skilled blue-collar workers from India has gone up by 25 per cent in the UAE during May 2023-April 2024, compared to the same period of the previous year, especially in sectors including technology, healthcare, construction, among others, a report said on Tuesday. According to a report by blue-collar worker marketplace Huntr, the demand for skilled blue-collar workers from India has surged by 25 per cent during May 2023-April 2024, as compared to the same period of the previous year. In terms of job roles, the demand for electricians, plumbers and technicians has grown at a rate of around 20-25 per cent over the past year, it added. However, the demand for non-skilled workers has seen a more modest increase of approximately 10-15 per cent leading to a decline in the migration of non-skilled workforce by around 10 per cent, it noted. The report by Huntr is based on quantitative surveys with qualitative interviews with 1,00,000 blue workers enrolled on the platform fro
India is set to create 24 million tech-savvy skilled manpower for the global market in the next 3-5 years, according to Sekhar Garisa, CEO of Bengaluru-based Foundit, a job placement platform. Foundit is already working with 90 million registered jobseekers, 70 per cent, or 63 million, of whom are from Indian technology institutes, he said at the launch of the next-generation recruitment solution app in Singapore on Wednesday evening. "India remains one of our biggest sources of skilled manpower, especially the Indian technology institutes," he said. "Currently, 60 per cent of our job arrangements are in India, followed by 35 per cent in Southeast Asian countries and 5 per cent in the Middle East," he said. Over the next 3-5 years, the target is to create a database of 600 million skilled people from global talent hunt, 80 million of which will be from India, including the current 56 million or so, he estimated. Formerly known as Monster, Foundit was rebranded in 2022 with a focus
Singapore, which is facing manpower shortage, hopes that the foreign talent will choose to "anchor" in the country and make it their home, but does not guarantee fast-track residency. "Granting PR (permanent residency) or citizenship to deserving global talent means that we can anchor them here to continue creating opportunities for Singapore and Singaporeans in the long run," Manpower Minister Tan See Leng told Parliament on Monday. Responding to a question, he said Singapore, though on a talent hunt globally, does not provide any guarantee or fast-track the PR (permanent residency) for employment pass or Overseas Networks and Expertise Pass holders. The minister was responding to an adjournment motion by Nominated Member of Parliament Raj Joshua Thomas, on building a global talent strategy. Thomas, a lawyer and the president of the Security Association Singapore, set out in the motion two main suggestions on how the government can bolster its global talent policy and ameliorate .
The insolvency law might have helped resolve more than 500 cases in six years but manpower shortage at the NCLT and average resolution period being much higher than the stipulated 330 days pose challenges in tackling stressed companies in a time-bound manner. While the Insolvency and Bankruptcy Code (IBC) timeframe for resolution is 330 days, inclusive of time taken for litigation, the 517 cases that yielded resolution plans took an average of 460 days for conclusion till the end of June. And the recovery rate for creditors against the claims made was around 31 per cent. Delay in admission of a case as well as the resolution period also results in erosion in value of the assets. Experts opined that litigations, shortage of manpower at the National Company Law Tribunal (NCLT) benches, infrastructure woes and the pandemic-induced disruptions have adversely impacted the envisaged time-bound resolution process, resulting in delays. Amid concerns in various quarters over the delays and
The services sector contributes to more than 50% of the country's GDP. Could the skill shortage in the sector run up against recovery in these sectors? Let's delve into the details.