NEW DELHI: A massive opportunity lies ahead for the Indian workforce as high-income countries are projected to face a labour shortage of 45 to 50 million by 2030, according to globally reputed management consulting firm Boston Consulting Group (BCG). More than half of these jobs are expected to be blue-collar roles.
Managing Director and Senior Partner of BCG, Rajiv Gupta, told this reporter that 20 countries would require 90 percent of this workforce. "The US would have the biggest demand with a requirement of 11 to 12 million workers, while the UK follows it with a demand for 5 to 6 million workers," he said.
In a presentation made during the launch of the GATI Foundation in New Delhi on Tuesday, Gupta said that Poland, Hungary, the Czech Republic, South Korea, Germany, Russia, Japan, Canada and the Netherlands would also require millions of workers five years from now.
An ageing population is expected to compel traditionally closed economies such as Japan, South Korea, Germany and nations across Western Europe to open up, he said.
Among the numerous measures he suggested to capitalise on this scenario was the creation of an institutional framework in the host countries by leveraging Indian embassies and the Indian Foreign Service (IFS) cadre. A promotion unit must promote 'Talent India' through one-on-one meetings, roadshows and information dissemination, he said.
Gupta pointed out that the migration agreement between Germany and Kerala helped 528 nurses from Kerala secure placements across 12 states in Germany in 2024.
Elaborating on the current challenges faced by those aspiring to move abroad, the MD said that the high cost of acquiring globally recognised skills and education was a major barrier. He urged the government to unlock financial assistance or offer low-interest loans or scholarships for individuals pursuing globally recognised certifications.