India Hiring Up 9% in April: Production & Manufacturing Lead
May 09, 2024 18:33
Hiring in India increased by 9% in April, led by production, manufacturing, healthcare, and other sectors. Start-ups also contributed to job growth, with a 37% increase in their number.
Illustration: Dominic Xavier/Rediff.com
Mumbai, May 9 (PTI) Hiring in India went up 9 per cent in April compared to the same month in the previous year, indicating a recovery in employment opportunities, a report said on Thursday.
The recovery in hiring is mainly driven in production and manufacturing, healthcare, chemicals and fertilisers, engineering, cement, construction, retail among other sectors, according to foundit's' (formerly Monster APAC and ME)' foundit Insights Tracker (fit).
Meanwhile, retail, automotive, real estate, IT, and oil/gas/power industries showcased moderate growth in hiring during April, while sectors such as agro-based industries, shipping/marine, FMCG, printing/packaging saw a yearly downtrend in recruitment.
According to the report, there was a 37 per cent increase in the number of start-ups since last year.
In recent times, start-ups have also played a major role in increasing employment opportunities for the youth, with a 14 per cent increase in the total number of jobs provided by these new companies, it added.
"Start-ups are increasingly leaning towards recruiting fresh talent, with over half of their job postings targeted at newcomers. Additionally, the production and manufacturing sector has witnessed a remarkable 31 per cent year-on-year surge in hiring.
"This growth will go a long way in contributing to realising India's vision to emerge as a global manufacturing powerhouse," foundit CEO Sekhar Garisa said.
The foundit Insights Tracker (fit) is a comprehensive monthly analysis of online job posting activity conducted by foundit.
In terms of cities, metro regions of Bengaluru, Delhi-NCR, and Mumbai lead the way as startup hubs.
However, India's startup ecosystem is rapidly expanding beyond these metros, with non-metro locations increasingly emerging as entrepreneurial hubs, it stated.
The data also revealed that a majority of startups no longer offer remote work options, having transitioned back to working from office, it said.
This shift is highlighted by a decline in remote-work opportunities to 3 per cent in April, from 8 per cent in April 2023, it added.
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