Industry veteran T V Mohandas Pai has reckon that the India is likely to see over 20 crore young professional having no job or less opportunities in the market by the year 2025.
Automation in the country is likely to hit the country hard by cutting down opportunities for young professionals between 21-41 age group in next 9 years but the government has no policy to address this issue at all, Pai said on the sidelines of an event in New Delhi on Friday.
"By 2025 there will be 200 million young people in the age group of 21-41 with no jobs or less jobs and nobody knows what to do with these people. Government policy does not know what to do as they don't have proper data. We are going to have demographic nightmare," he further added.
About 10 years ago, nearly 62 percent people were employed in agriculture based jobs while this has fallen by 10 percent since then. Jobs in services and industries in rising.
"Disparity between people in agriculture and in service industry is widening and that is getting social attention all across India which has led to various agitations across states," he said.
Companies are exploring automation and are involved in developing more artificial intelligence in machines which have potential to replace process based jobs in the country.
Besides, he also said that banks are also getting automated, which will ultimately shrink the jobs in the sector as well.