New Delhi: Corporate India's hiring activity is likely to increase around 30% this year, with banking, information technology (IT) and fast moving consumer goods (FMCG) sectors leading the industry, reports PTI.
"Overall, across the main seven to eight key verticals studied by us, an average 30% rise in hiring activity is likely this year as compared to the last year. Expansion plans of firms, revival in attrition rates and taking on board recruitment managers indicate a strong recruitment phase in the next six months," Kelly Services managing director Kamal Karanth told PTI.
Kelly Services today released a study on employment conditions and salaries across key sectors, which aims to guide organisations in their workforce planning.
The Employment Outlook and Salary Guide 2010-11 revealed there is an increased demand for talent at mid-senior levels and even fresher levels, particularly in banking, IT and FMCG sectors.
"Fresh recruitments in banking and IT industry are likely to increase by 40%-50% this year compared to the last year, while FMCG may see a 20%-30% growth in hiring."
The main factors propelling the upbeat hiring sentiment include strong domestic demand coupled with country's fast economic growth as well as revival in the US economy.
Other key sectors expected to see strong hiring growth include telecom, engineering and real estate, the study said.
The study highlighted that in the banking sector there was a constant demand for banking and finance professionals and high quality customer-oriented services.
The current "hot job" in the banking sector is that of relationship managers to provide advice and financial planning.
In the Business Outsourcing Services (BPO) sector, process managers are expected to be in high demand as the focus is on process improvement and cost efficiency.
"Sales and marketing executives are likely to be in hot demand with companies across sectors want to market themselves aggressively to expand their businesses," Mr Karanth added.
The study also stated that attrition rates across various sectors are on the rise with the revival in the job market.
The banking and IT sectors are likely to see attrition levels of 15%-16% this year, while FMCG and telecom may see 10% turnover rates on their large bases.
New Delhi: The ministry of heavy industries and public enterprises today said it has sought imposition of up to 14% customs duty on import of power equipment to provide a cushion to domestic manufacturers like BHEL against cheaper imports, reports PTI.
"That (import duty) recommendation my department has already made ... I think the finance ministry will certainly look into it very soon ... we have asked for 10%-14% (customs duty)," Heavy industries and public enterprises minister Vilasrao Deshmukh told reporters here at a function.
Domestic power equipment makers, including state-run BHEL have been demanding a 10% customs duty on import of equipment for projects awarded through global bidding and mega power plants, plus 4% special additional duty.
The demand comes against the backdrop of increasing cheaper imports of power equipment mainly from China.
At present, 5% customs duty is imposed on equipment imported for projects awarded through the global bidding, while there is no duty on power equipment sourced for mega projects with a capacity of 1,000 MW and above.
On the other hand, the power ministry is not in favour of imposition of 14% duty as it feels that the move would adversely impact the country's power generation capacity addition plans.
Power minister Sushil Kumar Shinde had earlier said that capacity addition plan during the current Plan period would get stuck and it (customs duty) should only be imposed on the projects that would come up in the next Plan period (2012-17).