EMPLOYMENT TRENDS INDIA
India - Government stimulus measures have helped boost India's employment rates from last October to January this year by 19% over the same period last year.
India's industry body Assocham said the stimulus measures such as cut in excise duty and service tax has helped various industries create 19% more jobs in the last four months. It added, "The strong pickup in domestic industrial production and improving export orders have led to acceleration in the job creation process." According to The Economic Times, industrial production registered a growth of 16.8% in December, which is a 16-year high.
The automobile sector recorded a 24% growth in job creation during over the same period of last year while number of jobs in the hospitality sector grew by 19% as well. Sectors like agriculture, FMCG, HR and textile on the other hand recorded marginal decline in number of jobs created during the same period.
In the IT sector, Tata Consultancy Services (TCS) would be recruiting 30,000 employees from all over India. According to its global head of small and medium services Venguswamy Ramaswamy, this would further strengthen its current workforce of around 140,000. Speaking at a college symposium, he said corporations are in need of a lot of talent and creativity, which students possessed. He urged them to collaborate with companies while studying so they could come out with solutions that would boost business profitability.
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