India Inc to Create 1.6 Million Jobs in 2012
Bangalore: Government and corporate sectors are set to create about 1.6 million new jobs in the year 2012 in India. While global economic slowdown cut down jobs in many developed nations, India becomes the heart of job market. Even though the 12th plan aim an annual growth rate of 9 percent, Indian economy is expected to grow only 7 percent in the fiscal year 2011- 2012. With a minimal percent of the workforce, India Inc (which referred as including both government and corporate sectors of India) contributes over 60 percent of the nominal GDP of the country.
The new Ma Foi Randstad Employment Trends Survey (MEtS) reveals the recent major employment trends in India and draws a picture of the changing pattern of employment in different sectors of the economy. The study was done by surveying 639 companies across 13 industry sectors in eight major Indian cities. Despite of the expected job openings of 1.6 million, 2011 CY witnessed only 1.4 million new jobs in the Indian job market. However, most of the surveyed employers are optimistic as the last quarter of 2011 Calendar Year witnessed a hike in job creation than the expected 0.33 million.
The MEtS survey has identified top job generation sectors of India in the year 2012.
Expected Growth: 17.9 percent
Indian Pharma sector is witnessing a significant growth today. It has already employed 335,455 employees and expected to create more 59,957 job openings in this calendar year. Last year Pharma sector could exceed expected growth of 17.4 percent to 18.0 percent. As the increased dependency of global pharmaceutical companies and the enlarged access of pharma companies to rural markets, the expectation of a double digit growth is still in higher rate. This year 17.9 percent of job creation is expected from the sector, though the performance will largely depend on economic growth.
Post your Comment
All form fields are required.
© 2012 SiliconIndia all rights reserved