Attrition rate to the extent of 40 per cent is now being reported in India's key infrastructure sectors like energy and steel, said a report by the Associated Chambers of Commerce and Industry of India (Assocham), the apex body of Indian businesses.
The attrition rate hitherto was more prevalent in the outsourcing industry and civil aviation.
This has created employment prospects for more than 40,000 professionals in energy and steel sectors, which would also witness fresh investments.
According to Assocham President Sajjan Jindal, a large number of its members in energy sector and the entire steel alliance are reporting shortages of experienced, skilled and qualified professionals to an extent of 40 per cent as these sectors are commissioning additional capacities.
"The bigger companies are experiencing the unprecedented attrition rate, which is also increasing costs significantly," said the Assocham chief.
For example, the National Thermal Power Corp (NTPC), which is likely to enter into equipment manufacturing and power trading, may attract skilled workforce from a company like BHEL.
The work on four ultra- mega power projects, with the estimated capacities of 16,000MW would require 3,000 to 4,000 fitters and specialised welders, staff for cooling towers, ash handling plant and for capacity expansion operations. In addition, the number of power professionals could exceed 8,000-10,000, the report said. The oil exploration and refining sectors would similarly witness large capacity additions from 2008 onwards following growing crude shortage.
Capacity expansion in the refining sector would lift production from 149 million tonnes to 235 million tonnes in the next couple of years, which will require a fresh crop of petroleum engineers, drillers, physicians, geologists, geo-physicists, besides executives.
Rural electrification programme would also receive a fillip in view of forthcoming states and parliamentary elections and would also require personnel to achieve 100 per cent electrification programme for the corporation.