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Automation to kill 69 percent of jobs in India, World's 5 biggest economies to face unemployment crisis by 2040

In total India will have a working population of 1.1 billion by 2040 with an average age of just 38.

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At a time when India's job crisis is expected to worsen with each passing day, an alarming report has emerged indicating that by 2040, the country will see a 69% decline in job availability, primarily due to automation, as India is set to add a young workforce of close to 160 million new workers over the next 20 years.

In total India will have a working population of 1.1 billion by 2040 with an average age of just 38.

According to Forrester's 'Future of Jobs Forecast,' there are some key indicators of an automation-induced job crunch, including the fact that, when compared to Europe and North America, working populations in the five largest economies, which include India, China, South Korea, Australia, and Japan, are more vulnerable.

By 2040, about 63 million jobs are anticipated to be lost to automation. Furthermore, more than 247 million jobs are anticipated to be lost in industries particularly vulnerable to automation, such as construction and agriculture, according to the report.

The principal forecast analyst at Forrester, Michael O’Grady noted, “To prepare for the changes brought on by automation, the five largest economies in APAC will have to radically rethink their workforce strategies,”.

"While each economy faces unique issues, similar priorities such as recruiting more female workers might help offset labor-force losses." Furthermore, investing in STEM education, technology workforce training, and defending independent employees' rights will become critical," he noted.

In renewable energy, green buildings, smart cities, and smart infrastructure, and professional services, India, China, South Korea, Australia, and Japan will produce 28.5 million new employees by 2040.

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