India’s job market looks set for an uptick amid signals of a broader economic revival. Recruiters such as Korn Ferry, EMA Partners, Hunt Partners, Michael Page, TeamLease Services and Transearch are already seeing evidence of improvement with the increase in available jobs over last year being pegged at as much as 18 per cent.
That’s thanks to manufacturing, infrastructure and some other industries and in spite of the cooling-off in the startup and ecommerce sectors.
The overall job market has been improving for a while now. “This is likely to grow this fiscal,” said TeamLease Cofounder Rituparna Chakraborty.
“Domestic consumption pattern is expected to go up in the next couple of quarters and hence all sectors which are aligned to this appetite are expected to hire more.” The Make in India manufacturing initiative along with the government’s infrastructure push is adding heft to jobs growth.
“Overall job market is all set for a consolidation followed by a surge as initiatives like Make in India have started bearing fruit,” said K Sudarshan, managing partner, Asia, EMA Partners. “We are quite optimistic about job growth prospects.”
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Other sectors such as pharmaceuticals, renewable energy, non-banking financial services and consumer goods are also contributing to the surge, recruiters said.