Sectors like financial services, retail, and telecom will offer enough jobs for the skilled: K V Kamath

This paradox can only be solved by providing skill-based education at the grass roots level. These were the remarks made by Mr K V Kamath, MD & CEO of ICICI Bank while addressing the CII Conference on Corporate Social Responsibility in the capital on May 5, 2008.

Said Mr Kamath, With economy growing at a health pace, services sectors like Financial service, retail, telecom, travel, media and several others are offering more jobs than there are takers. But the paradox is that there are lakhs of unemployed youths who suffer from skill deficiency, and are hence unemployable.

Talking about job prospects in the financial services sector, Mr Kamath said, In just the financial sector there are about one million jobs being created every year. Studies point out that each white collar job creates four blue collar jobs.
Lack of right skills is a major problem, said Mr Kamath. He added, There is a need to revamp our education system at the grass root level. Schools and colleges in villages and towns must adopt vocational training and help create more jobs.
Earlier in his talk, Mr Kamath laid out four pillars of CSR initiatives at CII. Education, health, financial inclusion and employment are pillars on what I believe CSR initiatives should rest. Of course there are several other areas like climate change, but these four are core agendas for me.

CII organized the 2nd National Summit on CSR 2008 on the theme The new business model: Engaging society, enhancing competitiveness in New Delhi on May 5-6, 2008. The summit brings together representatives of the government, industry, NGOs and the civil society.