This spurt in hiring activity is led by ‘Digital India’ that scores over ‘Make in India’
June 2, 2015: It has been one year since the NDA government came to power, promising development and economic revival. But what has been the Narendra Modi government’s report card on job creation?
To find out, TimesJobs compared talent demand across sectors during the first year of the NDA government (May 2014-2015) to the last year of the UPA government (May 2013-2014). The data shows a 2 per cent increase in hiring activity.
While overall demand for talent had stabilized at zero percent between May 2013 and May 2014, talent demand grew to 2 per cent between May 2014 and May 2015, shows RecruiteX, the TimesJobs recruitment index.
A deeper analysis also showed that the Modi’s Digital India drive seems to have generated more hiring activity as compared to the Make in India campaign.
Make in India effect on job creation:
As Prime Minister Narendra Modi’s government completes its first year in power (May 2014-15), his push to transform India into a global manufacturing hub seems to have revived the otherwise dull hiring sentiments in the manufacturing sector.
According to RecruiteX, there is a visible impact on job creation in the automobile, auto ancillaries, auto components, consumer durables, FMCG, core manufacturing & engineering sectors.
A comparison of TimesJobs data between May 2014- 2015 and May 2013-2014 shows that talent demand in manufacturing witnessed an average 1 per cent growth after the NDA came to power.
Between May 2013 and May 2014, talent demand in manufacturing had reported an overall drop of 1 per cent.
Digital India effect on job creation:
RecruiteX shows that the government’s Digital India push in IT/telecom, IT product, IT services, e-commerce and startups generated more talent demand than the Make in India campaign.
The above-mentioned sectors reported an average 3 per cent increase in talent demand between May 2014 and May 2015. This was when the overall jobs market reported an average increase of 2 per cent.
During the same period, other key sectors including manufacturing recorded growth below the industry average of 2 per cent.
RecruiteX also shows that the demand for IT professionals grew not only in core IT sectors but also in manufacturing sectors (automobile, consumer durables, and engineering), BFSI and BPO/ITES sectors.
Automobile, core manufacturing & engineering sectors showed an average 7 per cent increase in IT talent demand in y-o-y analysis (May 2014 to May 2015). BFSI, BPO/ITES, consumer durables and FMCG sectors recorded an 8 per cent rise in talent demand for IT professionals during the same period.
“After May 2014, overall hiring activity across key sectors has revived including the big employers of the manufacturing and IT Sectors. With the government’s increased focus on digitizing India and the creation of Smart Cities, demand for technology professionals witnessed growth not just in core technology but also in manufacturing and allied sectors. This trend is likely to accelerate as companies adopt new technologies at a faster pace,” TimesJobs COO Vivek Madhukar said.
Talent demand comparison: May 2013-14 and May 2014-15
| Sectors |
(UPA’s last year) |
(NDA’s first year) |
|
BFSI |
-1% |
1% |
|
IT/Telecom, e-commerce and startups |
2% |
3% |
|
Petrochemicals/ Oil and Gas/ Power |
-1% |
1% |
|
Manufacturing & Engineering |
-1% |
1% |
|
Consumer Durables/FMCG |
-1% |
1% |
|
Automobiles/Auto Component/Auto Ancillary |
-1% |
1% |
|
BPO/ITES |
0% |
1% |
|
Total |
0% |
2% |
Source: TimesJobs RecruiteX
About TimesJobs.com:
TimesJobs.com, India’s leading career and recruitment portal, is one of the best-selling online ventures of the Times of India Group. Conceived and launched in 2004, TimesJobs.com currently has a candidate database of more than 20 million registered job-seekers across levels and functions who clock-in over 40 million page views a month.
TimesJobs.com is positioning itself as an engagement platform and knowledge resource for insights, information, analysis and opinions on the recruitment market. Well-known for its product innovations and unmatched deliverables, TimesJobs.com has pioneered the platforms of:
– JobBuzz.in for candidate engagement with company reviews and ratings
– TechGig.com as India’s leading IT network for careers, coding and competitions
– StepAhead for career assessment and enhancement services
– RecruiteX as the definitive demand and supply recruitment index
– The TJinsite knowledge series and a lot more.
TimesJobs.com serves a corporate customer base of more than 25,000 clients from across the globe. It has been serving clients like HCL, IBM, Yamaha, Godrej, HSBC, Mahindra, Bajaj Allianz, TCS and Thomson Reuters to name a few.