An Empirical Study to Identify Determinants of Effect of Technology on Labour Market in Emerging Indian Economy

Abstract

The manufacturing companies have put forward their interests in investments for innovation and development in technology for opening the economy of the nation. The foreign trade as well as advent of technology have been the two important reasons for manufacturers to invest even more in the research and development associated to manufacturing industries (Lee et al., 2018). This paper throws light on the factors necessary for analyzing the impact of development in technology on the labor markets prevalent in India. The labor market in the country is dynamic in nature. We analyze the effect of innovation on business and the interest of investors in technology amidst the manufacturing sector in India. There are major queries at various platforms such as whether technology in rise is going to affect employment rate or not; whether labors will find it difficult to locate jobs for themselves and cases of inequality along with minimal wages while exploiting the labors could potentially grow if the things are not monitored carefully. These doubts need justifiable clarifications. With the objective of determining the factors related to technology and its impact on the labor market, this study has been formulated. A sample of 173 people associated with labor market was surveyed to know the factors that determine the impact of technology on labor market and its significance. It is found that Technology creation as well as destruction, labors and industries determine the impact of technology on labor market.