According to experts at various global consulting firms, financial year 2010-11 comes with huge job opportunities across sectors and different hierarchical levels in companies
A windfall awaits those looking for lucrative employment avenues with just four sectors—IT, telecom, banking and healthcare—expected to generate over five lakh jobs by March next year, experts said.
According to experts at various global consulting firms, financial year 2010-11 comes with huge job opportunities across sectors and different hierarchical levels in companies.
“Banking, telecom and information technology (IT) are the top three sectors where hiring intensity and volumes are significant. The overall hiring for IT is expected to be 1,50,000 professionals for fiscal 2011," Kelly Services' managing director Kamal Karanth told PTI.
Both global consultancy Ernst & Young and workforce solutions provider Kelly Services, expect the telecom sector to generate over one lakh jobs this fiscal.
Kelly Services expects healthcare and banking sectors to provide around 2.5 lakh and 40,000 jobs, respectively, in FY11.
“Some other sectors that are likely to lead hiring in 2010 include pharmaceuticals, FMCG and education, as these sectors are facing a talent crunch at present," E&Y partner and national head (People & Organisation) NS Rajan said.
The experts believe that hiring would be also stay robust across sectors such as real estate, retail trade sector and manufacturing among others.
“Overall hiring is likely to remain bullish with positive business outlook for most companies. In the manufacturing sector—including the auto and auto ancillary sectors—around 25 lakh jobs are likely to be created," staffing firm TeamLease VP Rajesh AR said.
Another HR services provider head, Kenexa’s director (India RPO) Ray Pereira said, "We see a lot of hiring happening in sectors like healthcare, hospitality & travel and real estate. Considerable hiring is also seen in manufacturing, education and consultancy services.”
According to Kelly Services, job seekers in the services, public administration, education, mining & construction, finance, insurance, real estate and the wholesale & retail trade sector could look forward to the most favourable hiring environment in the current fiscal.
The Indian prime minister emphasised the need to rework the functioning of the global financial system, in a meeting with the US president
Prime minister Manmohan Singh has said that India was poised to achieve 9%-10% economic growth, but for this, it required a “protection-free international climate.”
During the meeting with US president Barack Obama, Mr Singh said that there was a need to “rewrite” the architecture of the global economic system in which the G-20 could play an important role, reports PTI.
Mr Singh and Mr Obama discussed a broad range of issues, including the global economic crisis, follow up of G-20 meetings and food & energy security.
The PM said that he was convinced that the two countries could begin a new chapter in their relations, foreign secretary Nirupama Rao told reporters.
Referring to the global economic crisis, Singh referred to role of US in strengthening growth impulses in the world economy, particularly in developing countries after World War II and stressed that that experience should be repeated.
Talking about India, he said that the country was poised to achieve high economic growth of 9%-10%, given the savings rate of 35% and investment rate of 37%. For this to happen, there was need for peace in the region, he said.
He also said that countries like India needed an international environment that does not allow protectionist forces to gain ascendancy, Ms Rao said.
Mr Singh told Mr Obama that “we should rewrite the architecture of the global economic system. In this context, G-20 could play an important role in ensuring that global economic recovery is sustainable.”
He said that the US was uniquely placed to work out a plan for sustainable recovery in a globally integrated financial system. There is synergy of interests between India and the US, Mr Singh told Mr Obama.
In response, Mr Obama said that the US would welcome suggestions from India as preparations for the next G-20 were underway. He mentioned common interest of both countries in seeing early conclusion of the Doha round of WTO talks.
A total of 14 out of the 17 industrial groups exhibited positive growth in February
Industrial growth maintained a high growth rate of over 15% for the third month in a row in February, reports PTI.
Industrial growth, as measured by the index of industrial production (IIP), however, was slightly lower than the 16% of the previous month and 17.6% recorded in December 2009.
The high growth is largely due to a strong 16% growth in manufacturing and a low base of 0.2% a year ago, when the Indian economy was still reeling under the impact of the global financial crisis.
The consumer durables sector, which was particularly hit by the global crisis, expanded 29.9% in February while capital goods production rose 44.4%.
Among other sectors, mining rose 12.2% and electricity by 6.7%.
For the first 11 months of the last fiscal, industrial output rose by 10.1% against 3% a year ago. As many as 14 out of the 17 industrial groups showed positive growth in February.
This would help the Indian economy to grow by at least 7.2%, as estimated by the Central Statistical Organisation (CSO).