Hiring activity by India Inc rises 22% in Sept
According to a recent report released by the Press Trust of India hiring by India Inc has increased by 22 per cent in September this year. This is has been mainly due to the improved confidence in the economy.
According to a statistics given by a job portal, the index of hiring level increased to 943 in September 2010 as compared to 773 in 2009. The hiring level was higher in Aug 2010 which stood at 956.
A constant rise in these hiring trends can be attributed to the fact that the business environment the country is showing a positive trend.
The data also shows the maximum placements have been the IT sector. The sector has moved up by 45 per cent as compared to 718 in September last year. This is just like the pre recession times, as now the IT companies are getting multiple projects both from India and abroad. All this has led to a kind of boom being witnessed in this sector. There is a good news for the qualified professionals in the software field as they have a great scope in the coming times. Things are expected to be moving in a positive direction and in their favour in the next few months.
Telecom and pharmaceutical sectors are exhibiting this positive trend too. But a decline is seen in the insurance sector and it can be taken as the highest level of decline which was around 58% as compared to the previous year. There has been fall in indices from 2% to 5% in key industries like auto, construction, oil & gas and banking.
As for the cities which have witnessed this surge are, Mumbai, Bangalore, Kolkata and Chennai. But Delhi and Pune saw a decline in the level of recruitment during the same period.