![Sumit Kumar, Chief Business Officer, Teamlease Degree Apprenticeship](https://img-cdn.thepublive.com/fit-in/1280x960/filters:format(webp)/smstreet/media/media_files/bHPNr0D2M0EtxFEAdPWS.jpg)
Indian cities, Pune, Bangalore, and Coimbatore, to register the highest Net Apprenticeship Outlook (NAO) from October 2023 to March 2024, as per the latest findings by TeamLease Degree Apprenticeship, the country's premier privately-owned Degree Apprenticeship program. This period is poised to witness significant growth in apprenticeship demand, particularly in the Engineering and industrial, Telecommunication, and Electrical and electronics industries.
Teamlease Degree Apprenticeship identifies a surge in apprenticeships across a wide array of fields, such as Mechanical Engineering, Aerospace Engineering, ESG (Environmental, Social, Governance), Manufacturing Operations, Data Analysis, Computer Networking, Sales, Marketing, and Electrical Engineering. This diversification and expansion of apprenticeships are a testament to the evolving job market and the increased relevance of specialized skills in the post-COVID era.
The top ten industries projected to lead in the Net Apprenticeship Outlook (NAO) encompass a broad range of dynamic sectors in HY2 FY2024. These include not only Engineering & Industrial, Telecommunication, and Electrical & Electronics but also extend to Ecommerce & Tech Products, Aerospace & Aviation, BFSI, Beauty & Wellness, Travel & Hospitality, Power & Energy, and Automobile & Ancillaries. These sectors are pivotal not just for their substantial economic impact, but also for their influential role in steering future job trends and employment opportunities.
Teamlease Degree Apprenticeship also brings to light a significant shift in gender dynamics within apprenticeships. Female engagement has notably increased from 13% in December 2019 to 17% in March 2023. Notably, within the manufacturing sector, the highest preference for females is observed in Engineering & Industrial (20%), Automobile & Ancillaries (17%), and Electrical & Electronics (13%). Similarly, within the services sector, sectors such as BFSI (21%), Retail (18%), and Beauty & Wellness (13%) exhibit a marked preference for female candidates. This change is reflective of broader societal shifts and the increasing emphasis on gender diversity in the workplace.
Accompanying these trends is an uptick in the average stipend for apprentices, from Rs. 10,900 per month in FY18 to Rs. 11,600 per month in FY22, indicating a healthy growth in compensation that aligns with the rising demand and value of skilled apprentices.
Sumit Kumar, Chief Business Officer, Teamlease Degree Apprenticeship, said, "Reviewing this year's apprenticeship trends Pune and Bangalore shine as economic powerhouses, driven by the impactful Production-Linked Incentive (PLI) scheme. Their unwavering commitment to higher education positions degree apprenticeships as the preferred pathway, aligning seamlessly with the National Education Policy's vision for innovative workforce development. This trend not only underscores the burgeoning need for skilled professionals in Engineering and Industrial, Telecommunication, and Electrical and Electronics but also highlights the pivotal role of government initiatives in shaping apprenticeship landscapes.”
Dhriti Prasanna Mahanta, Vice President at TeamLease Degree Apprenticeship, highlighted- “As the retail & BFSI sector thrive amidst growing consumer optimism, it becomes a driving force for overall economic development. The notable surge in women's participation and the concurrent increase in stipends herald a future for apprentices in India that is not just inclusive but also highly rewarding. These sectors not only champion gender diversity but also reflect the ascending value placed on apprenticeships. This upward trajectory mirrors the prevailing trend of escalating stipends, unequivocally signifying the recognition and demand for exceptionally skilled apprentices in these dynamic industries. The positive momentum aligns seamlessly with the broader narrative of an apprenticeship landscape that is both responsive and thriving.”