AI Is Threatening India’s White-Collar Jobs—Finance Expert Saurabh Mukherjea Sounds the Alarm

Finance Expert Saurabh Mukherjea on AI's Impact on India's White-Collar Jobs

India's white-collar job market is facing significant challenges as artificial intelligence (AI) and leaner corporate operations reshape employment patterns. Saurabh Mukherjea, founder of Marcellus Investment Managers, warns that these changes threaten middle-class jobs, especially for fresh graduates entering the workforce.

“We are actually quite American," Mukherjea explained on the Bharatvaarta podcast. “Our companies focus heavily on commercial outcomes. Hiring and firing practices are evolving, and AI is now affecting the workforce deeply."

Lessons from the Past and New Risks Ahead

Mukherjea draws a parallel with the 1990s in Western countries, when automation caused widespread job losses in manufacturing and routine office roles. The difference now is that India's younger and larger workforce depends heavily on entry-level white-collar positions—roles that AI threatens directly.

These changes are no longer limited to the IT sector. Saurabh Mukherjea highlights that fields like financial services, media, management consulting, and even his own profession face automation risks. For instance, HCL Technologies openly aims to achieve more output with fewer employees.

India’s white-collar jobs often involve repetitive, process-driven tasks, making them vulnerable to automation. “We don’t have as many creative roles. Our economy was built on labour arbitrage—that’s exactly the kind of work AI disrupts best,” Mukherjea added.

Workforce Reduction and Shareholder Gains

Mukherjea shared examples from his portfolio companies where CEOs plan to cut up to a third of their workforce through automation over the next five years. While shareholders may benefit financially, the human cost is significant. “They tell me, ‘You as a shareholder will benefit,’ but I’m not sure I want it,” he said.

The Disappearance of Stable Middle-Class Jobs

In another podcast episode titled “Beyond the Paycheck: India’s Entrepreneurial Rebirth,” Mukherjea discussed how stable, long-term jobs that once defined India’s middle class are vanishing. Even middle management roles, once considered secure and rewarding, are at risk. AI is replacing jobs across IT, media, finance, and management, signaling a shift away from the traditional model of job security.

Entrepreneurship as a New Path Forward

Mukherjea sees India’s digital infrastructure, built around the JAM Trinity (Jan Dhan, Aadhaar, and Mobile), as a key enabler for individuals to create new opportunities. As conventional jobs decline, entrepreneurship could become a critical engine for growth and prosperity.

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