MBAs have been experiencing a recruitment low since the fall of Lehman brothers. India has seen a spurt of MBAs specializing in the most popular businesses of marketing and finance along with human resources since the past few years. However, to be honest these specializations are now slowly losing their flavour with the demand shifting away from the clichéd specialized MBAs to other specialties with macro-economic realities changing over time. Simultaneously, on the other hand one of the seriously affected sectors at the moment is the power sector in India. The power sector in India, as per the national blueprint is suffering from a major crisis.
India is the 5th principal consumer of energy in the world and is anticipated to climb up to the 3rd spot by 2030. The energy basket in India comprises mainly of coal, oil and gas. Of these, coal is the largest contributing element to the power segment. Coal makes up nearly 53% of the Indian energy basket as compared to oil and natural gas together contributing 40%. The Energy outlook for India dictates that the country desires to reduce the dependence on coal to a great extent. However, the desire is miles away from the reality that can be achieved. But honest and pragmatic estimations itself reveal that the coal will be making up 50% of the energy basket even by the year 2025. Talking about the driving element coal, India’s major coal miner, Coal India Ltd (CIL) has been facing the wrath with an inability to meet the production targets and the lack of consensus on the Fuel-Supply Act (FSA) that redefines the price pooling mechanism. Consulting majors like PricewaterhouseCoopers (PwC) have been working on the energy sector in India. The oil sector has predicted an increasing demand for oil in the near future from the current increasing trend of oil imports. Natural gas production in India has been stagnant with urgent attention needed in this sector if the reliance on coal imports is to reduce. Thus, looking at the current trends the power sector has not been able to meet the demand for fuel in India that is expected to rise even further with a jump in population. Energy consumption in India is expected to rise by atypical of 5% a year through 2012-16 – a calculation of a slow growth rate for the industry. Consumption of Natural Gas is projected to grow quicker than that of crude oil.
In the context of a student vying for an MBA, the energy sector looks more than just perfect for a good, long-standing, and high paying job. This is because discerning the aforementioned factors of the power sector in India foresees immense potential for companies, firms and consultancies to employ highly skilled problem solvers in the form of MBAs.
However, a survey conducted by Deloitte reflects that the, Manufacturing and Energy & Resources sector jobs this year 2012-2013 have experienced marginally higher increments as compared to last year of 2011-2012; another reason to specialize in the energy segment in the country. The School of Petroleum Management (SPM) and University of Petroleum and Energy Studies (UPES) are amongst the institutes that offer MBA in energy management.