Rise of India Inc. for Employment Opportunities
The hot news from the corporate sector is that, over the next ninety days, the most notable IT concerns, Airlines, FMCG, and Pharmaceutical companies will open their doors to new talent. The corporate sector, famous by the name of India Inc. is predicting an increase in the percentage of jobs in India over the next three months. Jokes aside this falls like honey to the ears, because over sixty percent employers in India are planning to boost their workforce.
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The Recent Survey
In this snail slow economy where job opportunities are dwindling, a recent study has specified that the number of heads operation will increase in the first quarter of the fiscal year. As compared to the first quarter of the previous fiscal year, there has been the proliferation of 12% and if we enumerate in context to quarters then there is an increase of 1%.
Growth in Job Opportunities
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Study has shown that currently the hiring sentiment has improved as compared to the fourth quarter of the previous fiscal year. In the same survey, seven out of the nine prominent sectors in India Inc. has cited positively to hiring newer talent. The best has been posed by the FMGC sector- the outlook of overall employment for Fiscal Year 2014 is 38% per cent higher than the first Quarter of Fiscal year 2013.
The next sectors that fall in line in positiveness regarding job opportunities is the retail sector and then the IT sector with “Net Employment Outlook” at 36% and 34%. Want to know who rank next in line? Banking and finance come next at 33%, telecommunications at 31% and infrastructure at 30%. Real Estate seems to rank last along with the automobile industry. This implies that the Automobile and the Real estate will be opening the least amount of opportunities for the Indian Youth.
Pan India- north, east, south, and west- will see a more employment opportunities in the Fiscal Year 2014. In the next three months, the “Net Employment Outlook” for south is 28%, and this is five per cent higher that it has been a year back.
Even though, the GDP has fallen to 4.5 per cent over the last quarter in the current fiscal year, yet another study predicts the same result. Over the last quarter of the current fiscal year, there has been a significant fall in the number of employees, but that will be compensated for sure with the expansion of the economy with a five to five and a half per cent. This is unquestionably a cue to the improvement of economic growth, and it is being predicted that, by the next fiscal year, this must raise over six per cent in GDP.
The same study had something more to say- from the inflation point of view, 42% of those who responded to this survey cited that as compared to the present 7 to 8.0 per cent of inflation in this fiscal year, the coming fiscal year this inflation will be curbed to six to seven per cent. Well we cannot ignore the fact also that government is targeting fiscal consolidation, but yet 37 per cent of those who responded to the survey feel that the fiscal deficit will exceed the budgeted estimate.
Are all these statistics posing that the green shoot of the fallen economy is emerging? It is too early to declare a verdict, but this obviously means raising. There will be newer and better opportunities in India Inc.