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Indian companies most optimistic on hiring plans

business Updated: Mar 08, 2016 23:31 IST
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Employees work inside a steel factory in Agartala, capital of India's northeastern state of Tripura July 1, 2010.(REUTERS)

Indian employers emerged as the most optimistic lot globally in terms of hiring intention in April-June for the third consecutive quarter, the Manpower Employment Outlook Survey has said.

Employer confidence in India is stronger than in any of the other 41 countries surveyed. “India is moving on a higher economic growth trajectory with global investments in various sectors. Adding to this, substantive government measures are expected to position India as a lucrative destination for foreign capital,” ManpowerGroup India group MD AG Rao said.

With as many as 38% of employers planning to increase their staff strength in April-June, opportunities for job-seekers are expected to be bright in most Indian industry sectors and regions, the survey, which covered 5,203 employers across India, said.

“Budget 2016 is further expected to favour more foreign investments in India and campaigns like Make in India will drive global companies to set up manufacturing facilities in India,” Rao added.

Sector-wise, the manufacturing sector is expected to hire most, with a net employment outlook of 43%, followed by services (40%) and mining and construction (38%).

A region-wise analysis shows that payroll gains are expected in all four regions during the June quarter.

The strongest labour market is anticipated in the south, where employers report a bullish net employment outlook of 42%, followed by west with a reading of 39%, east (36%) and north (31%).

Globally, ManpowerGroup’s second-quarter research reveals that job gains are expected in 39 out of 42 countries and territories during the April-June period.

Employers in India and Japan report the strongest second-quarter hiring plans while those in Australia and China log the weakest.

Some key labour markets such as Germany, France and Italy are struggling to gain traction amid the current economic uncertainty.

Faced with the slowdown in China and ongoing turmoil in commodity markets, most employers across the globe appear to be taking a measured approach of adding staff, according to the survey.

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