GST to create more employment opportunities
With the implementation of GST spectacular employment opportunities will be available in the country. It has been expected that by 2018 July GST will create 1.3 million jobs. There will be huge opportunities for lawyers, accountants, tax professionals, cost accountants, management consultants, e-commerce professionals, etc. Banking, finance, insurance and taxation sectors will provide more employment opportunities.
FMCG, consumer goods, pharmaceuticals, real estate and automobile industry will exhibit increased hiring rate. Food processing sector in the country now exhibits a growth rate of 18-20 percent in the country. GST will facilitate to increase the growth by over 25 percent in the country.
There will be increased demand for IT professionals especially in big data and business analytics and cloud services. Implementation of GST will fuel huge demand for semi-skilled workers, such as carpenters, masons, plumbers, electricians, draftsman, tailors, weavers, food technologists, and marketing jobs in the retail segment. Low-cost housing, textiles, leather and food processing industries will exhibit robust growth. Implementation of Make in India, Ease of doing Business, Start up India, Digital India and Smart Cities will be augmented through implementation of GST.
Sectors like manufacturing, FMCG, e-commerce, telecom, automotive and media will be major ones to benefit and will generate more jobs. Most of the raw agri-commodities ranging from rice, wheat, milk, fresh fruits and vegetables are in the zero tax slabs as they are consumed by the masses.
Agri business and e-commerce sector including logistics ad supply chain management will require more talents in the coming year. Since the raw material could be sourced directly from farmers instead of being entirely depending on middlemen in mandis, e-NAM provides this opportunity to graduate to a real pan-India market for agricultural products.
A smooth GST regime can break inter-state barriers on movement and facilitate direct linkages between processors and farmers. Integrated law programmes like BA. LLB, BBA. LLB, B.Com.LLB, B.Com, BBA, BCA, MCA, MBA along with accountant programmes will be some of the prospective courses which can create umpteen job opportunities. Accountant programmes like Chartered accountant, CMA, CIMA, CIMA global, ACCA, ACCA, CPA Australia, CMI, IFA, AAT, CIPTA, AIA, courses on taxation, Financial analyst, etc will be some of the most wanted courses in the coming years.