India's hiring outlook remains strong as the Net Employment Outlook (NEO) for the October to December period is seen at 54 percent, up 10 percentage points compared to the same quarter last year, a new survey has found.
Compared to the July to September quarter, hiring is likely to jump see a 3 percentage points uptick, ManpowerGroup Employment Outlook Survey released on Tuesday said.
“Employers continue to be optimistic amid predictions of growth opportunities for developing countries in the wake of the ongoing geopolitical conflicts,” the report said.
Of the companies surveyed by ManpowerGroup, 64 percent said they plan to hire during the quarter, 10 percent expect a decline in hiring intent, 24 percent are looking to keep the workforce levels steady and 2 percent were undecided.
According to the report, globally, hiring sentiment has weakened in 23 of the 40 countries and territories compared to last quarter.
“Unlike many other countries this quarter, India expects robust economic growth. Indeed, benefits like low corporate taxes and the reworking of global supply chains have positioned India as a viable option for businesses,” the report said.
The survey is based on interviews with more than 40,600 public and private employers across 41 countries and territories to measure anticipated employment trends each quarter.
India’s
hiring outlook is ranked second globally, after Brazil, where 56 percent of firms expect to increase staffing levels, as per the survey.
"India's deep-rooted fundamentals are healthy and robust. Despite the short-term setbacks, growth-enhancing policies, increased investment in infrastructure, rising exports etc. will nullify the mid- and long-term impact," said Sandeep Gulati, Managing Director, ManpowerGroup India, quoted as saying by news agency PTI.
Externally, the current global geopolitical tailwinds are expected to aid the growth of developing countries like India as predicted by many experts, he said but also acknowledged that this is also impacting the country’s IT sector adversely with employers treading on a cautious path amid speculations of a global slowdown.
According to the ManpowerGroup survey, employers in the IT, tech, telecoms, communications and media sectors show a downward trend in the coming quarter.
