Booming economy needs 1,000 CEOs across sectors

Booming economy needs 1,000 CEOs across sectors
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First Published: Sun, Apr 22 2007. 03 58 PM IST
Updated: Sun, Apr 22 2007. 03 58 PM IST
PTI
Mumbai: The booming economy has thrown up a huge opportunity for professionally skilled personnel at various management levels as the requirement for chief executive officers and other top executives has grown substantially.
Along side this huge demand for professionals, another phenomenon is being witnessed. A growing number of global managers are now excited by the professional opportunities presented by India which has emerged as the second-fastest growing large economy in the world.
According to an estimate by IMD International Search & Consulting, a consortium of leading HR consulting firms, the country would be needing over 1,000 CEOs across industries.
And much of the requirement would emanate from new-generation segments such as SEZs, aviation, airport management and retail.
Besides CEOs and top-level executives, there would be a need for 2.3-million professionals in the services sector, primarily in the IT and ITES segments.
By 2010, the requirement is estimated at 0.8 million for IT and 1.4 million for the BPO segment, which will further fuel the demand for globally competent managers.
That there may be an influx of talent from overseas into India was acknowledged by Tom Fuller, Managing Director, Epsen Fuller USA and a partner firm of IMD.
“For the past five decades, India’s best and brightest were lured by the glamour of the West. Today, a growing number of global managers are attracted by the exciting professional opportunities being presented by India,” he observed.
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First Published: Sun, Apr 22 2007. 03 58 PM IST
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