So Amazon is pouring US$ 2 billion into India, the US$ 6 billion online market.Good news for the roughly 50 million Indians entering into the ‘workforce’ every year. 80% of which are, by official estimates, ‘unemployable’ because of the paucity of skills, training and education.
Many of these are going to be just plain dragged along and up, if they are lucky.
I remember 1993, when Indian aviation opened to private players. Suddenly, girls had the opportunity to work as cabincrew, at salaries that were 7 times what they would have earned as receptionists and typists had the airlines not come around.
Then many of the airlines folded up, and hundreds and hundreds of cabin crew were desperately looking for jobs in the service industry.
I remember the recession when MBA graduates offered to work for free, just to log time with a company.
Every major ’employment’ bubble is followed, as is habitual with bubbles, by a bust.
‘Online’ today is wearing the same shimmering robes that aviation once wore.
I am happy for the sheen and promise.
I fear the shakedown.
Flipkart started it. Lets see what happens when the cart gets flipped.
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