The workforce of India and Brazil are expected to grow by over 200 million people in the next two decades, even as there will be huge talent crisis globally, according to the World Economic Forum.
"Developing countries, not affected by ageing populations (the workforce of India and Brazil will grow by more than 200 million people over the next two decades), will also face huge skills gaps in some job categories due to low employability," a report by the WEF said.
By 2030, the developed countries would need millions of new employees to sustain their economic growth.
As per the report, prepared in collaboration with The Boston Consulting Group, the US would need as many as 26 million employees by 2030.
The report titled 'Stimulating Economies through Fostering Talent Mobility' noted that if the issue of "unparallelled talent scarcity" is not unaddressed, the same would put a brake on economic growth in many countries.
In most developing countries -- not affected by demographic shifts -- strong economic growth and the limited employability of the workforce would lead to large skills gaps in some job categories, it added.
"Talent availability is the biggest attraction for multinationals deciding in which country to invest.
India needs to leverage, create and retain its talent to stay competitive," the report pointed out.
Noting that India's migration policies are still less sophisticated than in some developed countries, the report said, "Becoming increasingly attractive for highly skilled migrants, India can start to adapt its migration policies to attract highly skilled migrants".
Industries such as business services, IT and construction, are likely to see significant skills gaps.