GST regime to create more employment

GST regime to create more employment

GST regime to create more employment
The job market is upbeat with the implementation of GST. The market is expecting a big boost in terms of employment opportunities in various sectors.

Founder and CEO of Ajay Kolla said, “GST will have an impact on job creation in a positive way. With GST being rolled out, it is expected that there will be a 10-13% annual growth in job creation. Job opportunities will be created more in the specialised areas like taxation, accounting and data analysis.”

He added that around 50,000 to 60,000 jobs are expected to be created in the first quarter after the implementation of GST.

According to Kolla, there will be a high demand for semi-skilled workers including carpenters, masons, plumbers, draftsman, tailors, weavers, food technologists, and marketing jobs in the retail segment. The sectors where jobs are likely to be created are low-cost housing, textiles, leather and food processing.

“Even government bodies will be recruiting many people, as they may not have adequate number of officials to tackle the workload that will be conferred, once GST is rolled out,” he said.

Already many companies have launched GST software. “The companies that are coming up with GST software would have got people to design those software and will now have trained specialists to teach corporate and business houses on how to operate and use such software thereby, creating ample job opportunities. Since implementation of GST will reduce the barrier between states and will result into a common market, many organisations may look at expanding their operations which will again result in job creation,” said ManpowerGroup India MD AG Rao.

TeamLease Services Vice-President Sonal Arora said the bulk of the jobs created will be blue collar or manufacturing jobs or entry level jobs in sales, customer service and related functions, which will benefit the one million youth entering the job market every month.

“Automobiles, logistics and ecommerce, home décor, cement and media and entertainment are sectors that are likely to see double digit growth in employment over next couple of years,” Arora added.

Apart from job creation, it is expected that GST would bring in a significant change in doing business in India. Adecco India CFO Marco Valsecchi said companies will invest in GST software to advocate for the best practices, gearing up for changes in processes, training teams and developing IT systems for being GST compliant. “For this reason, temporary jobs will gain a big boost in the GST regime across all sectors,” Valsecchi said. He added that job market scenario seems to gain expected momentous rise across sectors, however, it is temporary and will fade away eventually.
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