Hiring in India is expected to continue steadily in the July-September quarter of the current fiscal year, according to the latest ManpowerGroup Employment Outlook Survey.
The survey, which included nearly 3,020 employers, revealed positive sentiments in the Indian labor market for the second quarter of FY24.
The IT industry is showing the most promising hiring outlook.
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The survey indicated 49 percent of employers intend to hire, while 13 percent do not expect to hire, resulting in a seasonally adjusted net employment outlook of 36 percent.
Although hiring sentiments have declined by 15 percent compared to the same period last year, there has been a growth of six percentage points compared to the previous quarter.
Globally, employers in all 41 countries surveyed anticipate a net positive hiring outlook.
Costa Rica ranked first with a net employment outlook of 43 percent, followed by the Netherlands (39 percent) and Peru (38 percent).
India secured fifth position (36 percent) on the global list, with Australia ahead.
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The survey identified Japan (14 percent) and Taiwan (15 percent) as the countries with the most cautious hiring outlooks.
The survey also revealed 84 percent of Indian employers are actively recruiting for “green jobs” or positions requiring “green skills.”
In specific sectors, the IT, technology, telecom, communications, and media industries reported a hiring outlook of 47 percent, with 89 percent focusing on green job recruitment.
The financial and real estate sector showed a hiring outlook of 41 percent, with 85 percent focusing on green job recruitment.
Sandeep Gulati, Managing Director of ManpowerGroup India and Middle East, said: “India is one of the significant IT talent hubs for tech companies across the globe.
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“Coupled with that, is the government’s continuous reinforcement in the semiconductor industry, both of which is fortifying the IT sector as the dominant player for growth in the Indian job market.”
He added “demand during the festival season is expected to fuel the overall economy which will largely impact the temp staffing industry as well as the gig economy positively.”
The survey concluded employers across all four regions expect payroll growth during the third quarter of 2023.
The West region showed the most promising hiring pace with a 42 percent net employment outlook, followed by the North and South regions with 39 percent and 33 percent, respectively.
In the East, the net employment outlook stood at 29 percent.
