Survey states elections will usher the changes; fresh sector specific policies expected
Pune: A recent study of companies across India shows an optimistic expectation of 4 per cent business growth and 5 per cent employment growth in the next six months. The outlook is a result of the impending elections and fresh sector specific policies as new regime is expected to usher in.
Upbeat organisations are expecting business and employment to grow at a brisk pace for the HY1 April-September, 2014.
The Business and Employment Outlook HY1 report released by TeamLease Services, a composite staffing company from India, shows that most cities across India will be having a positive hiring outlook in the forthcoming half year (HY1).
Pune is expected to register employment outlook growth in the top three sectors - infrastructure (2%), healthcare and pharma (1%) and financial services (1%). The study, which covered 614 companies in the latest round, focuses on the employment growth potential, the business outlook and hiring forecasts with relation to the location and the company profile.
Senior vice-president and co-founder, TeamLease Services, Rituparna Chakraborty, said, "Good tidings are anticipated for the Indian economy and this is obviously going to reflect on job creation. The overall sentiments have significantly improved this time around."
The detailed study brings forth some important employment and business trends that will play a significant role in determining how job creation and hiring is to pan out in India over the next six months. The outcome of elections and the expected sector specific policy changes seem to have spurred the corporate sector which is witnessing a marked improvement in employment and business outlook. From a sector perspective, healthcare and pharmaceutical, financial services and infrastructure seem to be driving the growth.
Key findings
(All comparisons to previous half year period from October 2013 to March 2014)
- Upbeat organisations expecting outlook growth of 4% business and 5% employment
- Gaining employment outlook are Mumbai (4%), Bangalore (5%) and Ahmedabad (4%)
- Down on employment outlook are Kolkata (1%), Chennai (1%) and Hyderabad (2%)
- Upswing in business outlook is Delhi (4%)
- Down in business outlook are Pune and Chennai (2%)
- Healthcare & Pharmaceuticals (employment 5% & business 4%)
- Up in Financial Services (employment 4% and business 5%)
- Infrastructure up by 4% business outlook
- ITeS down 4% business outlook
- Hiring to pick up across at entry level (2%) and junior (3%)
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