With 10% of the world population consisting of Indians under the age of 25, today, more than ever, India holds a very potent strength in the form of its youth. Reliable studies indicate that 72% of the Indian population is under the age of 40, and almost half of India is under 20. This consistency of our demography, with a predominance of youth, is expected to last until 2050, and bestows great potential upon our nation to reprise the role of a superpower.

As per the 'BRIC Report', by Goldman Sachs, economies of Brazil, Russia, India and China are expected to rise rapidly as dominant economic forces, over the next half-century, with their combined GDP overtaking that of the G6 countries by 2039. It further states that India could exhibit the fastest growth over the next 30 years, surpassing Japan's economy by 2032.

The Indian youth have, at their disposal, a very unique set of advantages in the form of mobility, language, education, thirst for knowledge and techno-savvy nature. However, the extent to which these advantages can be harnessed depends upon their ability to understand and leverage their strengths, while efficiently shouldering their responsibilities. To their benefit, the current knowledge pool of our society, coupled with experience of the past, is vast enough to assist them in effectively overcoming their challenges.

Until last year, BFSI owned the privilege of being the most sought after segment for employment. With an average growth of around 10%, BFSI pitched in over 55% to the GDP in FY’08. IT industry, the next most preferred segment, owed a part of its accelerated growth to the heavy expenditure on it by BFSI. Predicting the hottest sectors, a year earlier, was no tough cookie. But the current economic meltdown has made matters a little complicated, with its direct and most severe impact felt by the BFSI, and an indirect impact on the IT segment.

The massive jolt to its flagship industry, BFSI, caused the services sector to lose some importance to its counter parts, with the manufacturing sector engulfing a larger portion of the economic pie.

Within the manufacturing sector, the three industries that currently appear most promising are- Pharmaceuticals, Automotive and Power.

Pharmaceutical Sector:

The mammoth Rs.36,000 crore Indian pharmaceutical industry shows no sign of relenting under the current financial crisis. Dealing with relatively inelastic goods, untapped markets and rising consumer awareness, the industry is geared to grow at a rate of over 19% in the next fiscal year. Indian pharmacy has already witnessed the rise of some world class players, such as Ranbaxy, CIPLA and DRL, and the progress in this segment is only expected to rise.

Those graduates with a degree/diploma in B.Pharma, and are interested in research, could expect to pursue rewarding careers with clinical research companies or research departments within leading pharmaceuticals. Other entry level jobs are available in the departments of production, purchase and sales; but a Bachelors degree in Pharma would go a long way here as well.

Automation Sector:

The past financial year saw the Indian automation industry grow at a very healthy rate. Even though this segment was effected by the economic slowdown, it jumped right back as companies from the automotive sector announced that there would be no downward revisions of previous production plans. Thus, for now, this industry would remain a lucrative opportunity for job seekers.

Graduates with a background in mechanical, electrical, instrumentation, electronic or production engineering would find attractive prospects in this sector. Entry level jobs are available in production or engineering. Both facets focus on cutting costs, raising efficiency and improving quality by replacing manpower with machines.

Power Sector:

Since the growth of many industries within the manufacturing sector has hardly been impeded by the meltdown, the power generation industry is, but obviously, expected to continue its progress as well. The growth that the power sector registered last year is expected to accelerate, with the recent N-deal between India and the USA adding to the demand for experts and skilled labor for setting up and operating nuclear power plants.

The power sector harbors an urgent need for graduates with a degree/diploma in electrical, mechanical or civil engineering. Entry level jobs will involve on-site work with the generation or distribution departments. Prospective employees need to be prepared to work far from cities or towns; and in case of emergencies, may be required to work 24/7.

Besides these industries from the manufacturing sector, there are two other industries, belonging to the services sector, that are sure to retain importance. These are the organized retail, and IT.

Organised Retail Sector:

Being part of the services sector, organized retail will not remain unscathed by the economic slowdown. But since it is still at a nascent stage, coupled with advantages such as increasing per capita purchasing power and rapid urbanization, it will not be as impacted as the more developed industries. Its scope is still considerable, and though its growth rate of 20-25% will take a hit, it will probably not fall as much as was predicted earlier.

Gaining a foothold in the retail sector does not require any specific educational background. But one must possess a pleasing personality, lots of patience, willingness to work for long hours and an eye for detail. A course in hospitality would be an added advantage.

Information Technology Sector:

The IT industry (includes telecom and IT enabled services), which has always been a hot favorite among employees, escapes the fate of BFSI, its largest patron, due to its massive spread across all sectors. Although pulled down from its pedestal, IT will salvage much of its share due to its rising demand among many up and coming industries. IT includes the Telecom sector and IT enabled services.

The IT sector requires engineers from all backgrounds, and graduates with degrees/diplomas in BCA, MCA or B.Sc. There is plenty of demand for hardware as well as software developers who are willing to work long hours, face stiff deadlines and exhibit keen interest in keeping themselves updated with the latest technology in their field.