New Delhi: Faced with severe talent crunch, as many as 10 million job positions in the global manufacturing sector are lying vacant, says a report.
The report titled 'Future of Manufacturing: Opportunities to Drive Economic Growth' has been prepared by the World Economic Forum (WEF) and global consultancy Deloitte Touche Tohmatsu Ltd.
"The future of global manufacturing is turning into a competition for global talent... 10 million manufacturing jobs worldwide cannot currently be filled due to a growing skills gap," it said.
According to the report, the shortage is pervasive despite high unemployment levels in many developed economies where companies are struggling to fill manufacturing jobs, such as highly trained workers and engineers.
"The skills gap that exists today will not likely close in the near future, which means companies and countries that can attract, develop and retain the highest skilled talent from scientists, researchers and engineers to technicians and skilled production workers will come out on top," Craig Giffi, who was involved in authoring the report, said in a statement.
Giffi is Vice Chairman and Consumer & Industrial Products Industry Leader at Deloitte LLP in the US.
Innovation would remain the key for manufacturers to stay ahead of competition.
Further, the report said that affordable clean energy strategies and effective energy policies would be a top priority for manufacturers and policymakers.