Excerpted from the India Career Guide
The story of India is one of growth and opportunity. Not only is it the world’s largest democracy, it also is now the world’s third-largest economy. India’s GDP (Gross Domestic Product — a measure of a country’s wealth) grew an estimated 6.5 percent in 2012, surpassing Japan, which now ranks fourth.
India’s population exceeds 1.2 billion, and more than half of its people are under age 25. This ‘demographic dividend’ — one of the youngest populations in the world —likely will be one of the key drivers of India’s long-term growth. First, however, sufficient employment must be generated for its people.
Hiring in India slowed recently, with fewer new jobs being created, but the Information Technology (IT) sector continued to create new jobs — though at a slower pace — and is expected do so again this year. Both employers and employees in India are generally optimistic about the country’s economy.
Sectors like infrastructure, retail, pharmaceutical and biomedical, engineering and construction should see increased hiring. India’s retail sector could see 20 percent growth in hiring. Infrastructure growth is driving hiring in construction.
Areas of Job Promise
Lack of skills is a common reason for vacancies in India. In fact, about half of employers in India are having difficulty finding the right talent. The ten positions that are hardest to fill include:
- IT Staff
- Marketing/Public Relations/Communications staff
- Sales representatives and managers
- Accounting and finance staff
- Call center operators
- Insurance staff
- Secretaries/Administrative assistants
- R&D researchers
Salary increases in India may average nearly 11 percent this year, and some may go as high 15 percent. Although that’s lower than last year, it’s still among the highest in the world. Companies also are creating more integrated total rewards programs as part of an effort to attract and retain top employees.
This is just a short sample of what you’ll find in over 100 pages of information in the complete India Guide.