The Indian Economy is Changing. Is the Modern Indian Employee too?

March 13, 2015 by Jessee R

Over the past decade the Indian economy has seen a trademark shift in its basic ideology. The ideas of confinement and self-sustenance have given way to dynamism, globalisation and rapid growth. The Infographic shows how the variables of the Indian Economy have changed over the years.

As we clearly see, the rapid growth has started after the Ground Breaking Economic Policy of 1991. It was this year which propelled Indian into increased development involving privatisation, liberalisation and globalisation. Some of the following attributes have changes drastically.

The earlier popular concept of stability has been replaced by the importance of rapid growth. More and more people have started looking at entrepreneurship and self- independence rather than looking for secure or government jobs. Self-sustenance and defensive strategies have given way to aggressive growth and globalisation strategies which has narrowed the boundaries of business and investment and set the Indian economy on the path of rapid technological influx and infrastructural growth. This explosion has been of such a magnitude that today the majority of Indian Crowd in Urban and working in the private sector. The Unemployment Equilibrium in India has shifted to the left allowing for more opportunities. The middle class has grown stronger on the base of education and competition. There is a stronger balance and symbiotic relation between the corporate and the public sector.

We see that the number of people moving towards the private sector in terms of better jobs and living standards is increasing.

What we can infer from these numbers is that the ideology of the modern employee is changing.

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In the current Indian Economy which seems pretty positive at the moment due to the recent changes implemented and announced by the new dynamic government, the modern Indian Employee is not just concerned about his job anymore. He realises the opportunity and is ready to up the ante and take some risks.

What is the modern employee thinking in this revitalised Indian Economy

Taking Risks and Speeding Growth

Back in the day people were risk averse and wanted stability and security instead. The modern Indian economy promises high return on a high risk and people are starting to realise that. That is why more and more people are looking towards adventurous careers like entreneurship and unique fields like ecommerce and food and beverage. This has brought unprecedented dynamism into the whole workforce.

Diversifying Income and Investments for better Gains

The Indian Employee in realising the importance of multiple income sources and multiple savings channels every day. Therefore, we are seeing more and more part time freelancers, bloggers and contract workers who are pushing their limits to earn a little extra. We are also seeing increased small scale and medium scale activity in investment mechanisms like equity trading, mutual investments, government bonds and other such instruments.

Long Term Security instant of instant gratification

The idea of mere self-sustenance and momentary securities is fast becoming obsolete. More and more people are inclined towards taking risks, putting their financial and career securities on the line and taking the leap of faith which promises a better and more prosperous future.

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This is the reason we are seeing more and more individual success stories, more successful sports players and celebrities, more corporate successes and what not. The hunger has never been so immense.

Entrepreneurship and Self Independence

The Indian Employee is gradually coming to terms with the prospects of working on brilliant ideas and converting them into successful businesses. The era of the Indian Entrepreneur is the on the horizon and has already had successes like Infosys, Zomato, FlipKart and many others to boast of. Seeing these successes more and more people are finding the will to create their own brand and leave their own identity on the bullish Indian Economy in the time to come.

What really happens in the years to come cannot be predicted by guarantee but the chances are strong that The Indian Economy will grow into a very significant contributor to the global GDP and thus provide numerous opportunities to its people to take advantage and build a better life.

The modern Indian employee is on the move. We at Truelancer are consistently mapping our freelance activity. We have seen a surge in Freelance transactions over the past few years which gives us an insight into the mind-set of the current workforce. We will soon be rolling out posts which will show a detailed analysis of the changing scenes and rising opportunities. Stay tuned and subscribe for the updates.