The year 2010 started on a strong positive note, indicating fresh investments, more growth and accelerated recruitment process among Indian companies. Indian job market showed strong signals of recovery, especially after the government announced the stimulus grant to industries in India. Following the government’s stimulus measures, as many as 500,000 jobs were generated in India in the beginning of the year, finds International Labor Organization (ILO). Surprisingly, a good share of these job opportunities target young and fresh graduates in India.
A quarterly survey conducted by international recruitment firm Antal on hiring and firing trends around the world has found that India has emerged as the largest recruiter in the world since September 2009. The Global Snapshot from Antal says 71 percent of Indian firms participated in the survey said they were currently hiring compared to around half in September.
Where are the Opportunities?
While Information Technology and related services (ITES) continue to offer new opportunities for fresh graduates, sectors like manufacturing, healthcare, pharmaceuticals, financial services, and communications also emerge as prospective markets for job seekers.
Easing credit conditions in the global market have indicated that investments are on their way to major companies in these sectors. Many companies view this as the best time to reinvest in projects that were either cancelled or put on hold due to recession. New investments would mean more growth, followed by new job opportunities – in entry-level, middle-level and leadership roles.
Entry-level jobs in front-line, sales and customer-facing roles outnumber other roles, according to market research agencies. There’s a huge demand for customer service agents in healthcare, hospitality, and telecommunications, not leaving behind the ever-growing demand in the BPO sector – both domestic and international.
N.S. Rajan of Ernst & Young (E&Y) India says, “While hiring will continue mostly to meet the replacement demand created as a result of the erstwhile hiring freeze, there are likely to be mixed trends in the level of hiring activity across sectors.”
Earlier this year, Associated Chambers of Commerce & Industry (Assocham) announced that Indian economy would create 87.37 million new jobs by 2015- an estimated 15 million annual increase. This number, though looks overstated, includes jobs in the unorganized sectors as well. A more accurate estimate provided by leading industry researchers say India is likely to create approximately one million jobs in the year 2010-11.
Research from leading industry analysts finds that BFSI sector will bring approx 46,000 new jobs in India. Education, Training and Consultancy -all together are likely to create 83,000 new jobs while Energy Generation and Supply will create 15,000 new jobs. Healthcare will generate approximately 295,000 jobs while Hospitality & Travel will create 137,000 jobs. IT/ITES sector will produce about 97,000 jobs and Real Estate & Construction will bring about 136,000 new opportunities. Related researchers have also proven that Indian job market has been probably the fastest among the world market in terms of recovery. This scenario has boost the confidence level of employers.
Get ready! More jobs are on the way!
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