Logistics Sector will prove to be the next booming space for job allocations, with the sector poised to outperform other sectors with employment growth of almost a whooping 14 million by 2022.
One of the shrouded yet determining sectors of the economy, the logistics sector is projected to go on a hiring spree, with soaring employment growth potential predicted in the next few years as fresh funding and expansion plans get injected into the playing field.
Marked with a flourishing growth rate of 10.5% a year, the sector will emerge as a leading employer. As per IBEF Report, with sectoral investments expected to reach $500 billion by 2025, it is expected to employ 40 million professionals by 2020.
According to a TeamLease report, the overall employment in logistics is expected to touch the 14 million mark in 2022. The warehousing segment alone is poised to create 1,20,000 new jobs.
With improvements being worked out in key areas like infrastructural development, the logistics sector will prove to be one of the biggest drivers for job growth this year, with salaries of INR 15,000-18,000 a month plus variables in off-season, going up to INR 25,000-30,000 in peak season.
Pivotal factors that will continue to fuel the hiring capacity of the sector are investments and infrastructure. Key Public investments will be the primary factor in driving job creations. The second pertinent factor is infrastructure and the changes that have been incorporated to keep up with its enormous growth.
With the introduction of new players, there has been a tidal shift in bringing together an otherwise fragmented sector, which has influenced its ease of doing business. A once fragmented sector, efforts are now being made to organize it and that has shot up the ease of doing business, transforming the sector into a more organized whole with focused investments in technology. This has led to the sector turning into a preferred marketplace for creating extensive avenues for employment.