View from the Ground
India remains one of the fastest-growing economies globally. The core industries continue to register a consistent growth rate, and Government initiatives such as ‘Start-up India’, ‘Make in India’, ‘Ease of Doing Business’, as well as foreign direct investment policy reforms, are instrumental in facilitating this growth. This may mean an improvement in the employment outlook for most industries as the sentiment seems to indicate fresh recruitment plans will be high on the agenda for many businesses. There is a general focus on moving towards digital, creating high demand for skills already in short supply, meaning organisations are offering higher wages to those workers. The consumer industry is another sector that continues to attract the best talent and higher salary increases compared to other sectors. Industries are also focusing on closing their skills gaps by engaging with key talent and upskilling them through training and talent development.
Shane Little, APAC Managing Director, Hays Talent Solutions
Key Skills in Demand
- Cloud Computing Engineers
- Artificial Intelligence Professionals
- Semi-conductor Engineers
- Sales and Marketing Professionals for FMCG
- Mobile Application Developers
India’s economy continued to perform strongly in 2018, growing by 7.5%, slightly higher than the average GDP growth for the previous five years of 7.2%. Two of the main drivers of this growth were the construction and manufacturing industries, which grew by 8.9% and 8.1% respectively in 2018. This strong growth has been supported by India’s young and growing labour force. The working-age population grew by 1.5% in 2018 to over 900 million.
There are marked differences in labour market participation rates between males and females. The International Labour Organisation estimates the labour market participation rate for females in India was 23.6% in 2018, compared to 78.6% for males. Changes made in 2017 to improve maternity benefits and a 2018 scheme to extend healthcare insurance to one hundred million poor and vulnerable families may help close this gap.