India will have 85-90 mn jobs across sectors: HR experts

[AK-47]

India will have 85-90 mn jobs across sectors: HR experts

NEW DELHI: The "India Shining" story may be under stress by the ongoing economic crisis, but some sectors and career options still hold promise for Coming to terms with lay-off
Crisis: Keep staff motivated

job seekers this year, according to human resource experts.

Leading advisory Boston Consulting Group says India will have a demand for 85-90 million people across various sectors, and the majority of the demand will come from high-growth industries like IT, outsourcing, banking, retail and healthcare.

Similarly, a survey by HR consultancy Manpower projects hiring to rise steadily by around 18 per cent from this quarter in many sectors, signifying that jobs in India may not be entirely affected by the financial turmoil in rich nations.

"India poses a far more positive outlook as compared to what has been happening across the world," said Cherian Kuruvila, director operations, Manpower India, adding that seven per cent gross domestic product (GDP) growth for the country showed that the economy remained healthy.

"Employers in the mining and construction industries as also services sector are especially looking to scale up," Kuruvila said, but added that new jobs won't be distributed evenly through all regions and industries.

India has a work force of 484 million people, of which 273 million work in rural areas, 61 million in manufacturing and about 150 million in services, says the Boston Consulting Group that recently conducted a study on the country's services sector.

"Going forward, the Indian economy is likely to be overwhelmingly dependent on the growth of services. More than 70 per cent of India's incremental GDP and 60 per cent of new jobs over the next five years are expected to be generated by services."

India will have 85-90 mn jobs across sectors: HR experts- Jobs-News By Industry-News-The Economic Times

 

[Nihat]

Put this in Indian Economy Sticky thread and make it more consolidated rather than scattered.

Thanks

 

[roopesh]

Any pakistan friend looking for SHINING opertunity and want to settle in SECULAR india ???
Better life opertunity....rarely comes in....
Just imagine u and ur family in a nice flat with all modren equipments...cheap international calls to pakistan ...(RAW might tap though..dont care for them)...and better flight service from Kingfisher...(free bear and nice babes)....

U might not get a good job in pakistan...ultimately might end up in fighting for US military ...hell folks...

Communist think about this offer man! U get a chance to meet real indians and prove you are the best to all of them!!!

 

[ahmeddsid]

Any pakistan friend looking for SHINING opertunity and want to settle in SECULAR india ???
Better life opertunity....rarely comes in....
Just imagine u and ur family in a nice flat with all modren equipments...cheap international calls to pakistan ...(RAW might tap though..dont care for them)...and better flight service from Kingfisher...(free bear and nice babes)....

U might not get a good job in pakistan...ultimately might end up in fighting for US military ...hell folks...

Is this ur 60 % Trick??? hahahahaha

 

[ejaz007]

You have posted article which is not giving specific details. Article with some more details is again posted below. But the exact effect is difficult to ascertain at the moment. Just wait a couple of months and than we shall discuss.

 

[ejaz007]

India will have 85-90 mn jobs across sectors: HR experts
18 Jan 2009, 1524 hrs IST, IANS


NEW DELHI: The "India Shining" story may be under stress by the ongoing economic crisis, but some sectors and career options still hold promise for Coming to terms with lay-off Crisis: Keep staff motivated

job seekers this year, according to human resource experts.

Leading advisory Boston Consulting Group says India will have a demand for 85-90 million people across various sectors, and the majority of the demand will come from high-growth industries like IT, outsourcing, banking, retail and healthcare.

Similarly, a survey by HR consultancy Manpower projects hiring to rise steadily by around 18 per cent from this quarter in many sectors, signifying that jobs in India may not be entirely affected by the financial turmoil in rich nations.

"India poses a far more positive outlook as compared to what has been happening across the world," said Cherian Kuruvila, director operations, Manpower India, adding that seven per cent gross domestic product (GDP) growth for the country showed that the economy remained healthy.

"Employers in the mining and construction industries as also services sector are especially looking to scale up," Kuruvila said, but added that new jobs won't be distributed evenly through all regions and industries.

India has a work force of 484 million people, of which 273 million work in rural areas, 61 million in manufacturing and about 150 million in services, says the Boston Consulting Group that recently conducted a study on the country's services sector.

"Going forward, the Indian economy is likely to be overwhelmingly dependent on the growth of services. More than 70 per cent of India's incremental GDP and 60 per cent of new jobs over the next five years are expected to be generated by services."

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A survey across the Asia-Pacific region by TNS, a market research and business analysis firm, with Gallup International, a global human resource consulting firm, also threw up interesting findings.

Sixty-two per cent of the Indians polled felt they would be able to hold on to their jobs in 2009 and the 57 per cent who expected unemployment to rise did not not consider they would be the ones affected.

"It seems, despite the slowdowns and reports of downsizing, there is an overall confidence among the employed in India that 'My job is secure! Difficulties, if any, are for others, not me'," said TNS India executive director Chhavi Bhargava.

Experts concede that the present financial meltdown has raised doubts over the performance of some industries and its impact on salaries and perks, but hope Indian businesses will come out of the slump earlier than their counterparts overseas.

"The impact on salary was felt in 2008 and it may continue till some time. The payouts were significantly lower than the 15-200 per cent bonus payouts in 2007," said Absolute HR Services chief executive Kunal Banerji.

"Gone are the days of experimentation with jobs. I would advise employees not to be adventurous checking different jobs. Stability is the mantra," said Confiar Consultants managing director Vivek Ahuja.

Apart from advising employees to keep their jobs this year, HR consultants also feel these are also the times when people will turn to age old values and ethics and play by the book.

"The old adages like no substitute for hard work and no short-cuts to success are back in vogue," Banerji said. "Stay hungry for work or stay hungry is the mantra for corporate India."

India will have 85-90 mn jobs across sectors: HR experts- Jobs-News By Industry-News-The Economic Times

 

[ejaz007]

Before inviting Pakistanis you better take care of these people:

British plans to ban overseas job ads may hit Indian jobseekers- Jobs-News By Industry-News-The Economic Times

Poor global demand leaves thousands jobless in Surat diamond units- Jobs-News By Industry-News-The Economic Times

Sun Micro to cut jobs here, rework business strategy- Jobs-News By Industry-News-The Economic Times

Indian export industry predicts 10 million job losses by March : India Business

India faces 500,000 textile job losses

Job loss fears grip Merrill, Lehman staff - Money Matters - livemint.com

India Inc admits fears of recession, job losses

 

[Skywalker]

Any pakistan friend looking for SHINING opertunity and want to settle in SECULAR india ???
Better life opertunity....rarely comes in....
Just imagine u and ur family in a nice flat with all modren equipments...cheap international calls to pakistan ...(RAW might tap though..dont care for them)...and better flight service from Kingfisher...(free bear and nice babes)....

U might not get a good job in pakistan...ultimately might end up in fighting for US military ...hell folks...

Communist think about this offer man! U get a chance to meet real indians and prove you are the best to all of them!!!

Sorry buddy we cant even think in settling a country where a girl marries a dog or frog. It looks like Dogs and frogs have better values than normal Indian male.

Its good see Indian economy is growing but whenever you visit Pakistan , I would request you not to get jealous when you see hi tech things which you could rarely find in India. I have been to India couple of times and visited bombay, dehli and Banglore but they are no way near to Karachi, Lahore and Islamabad.

Trust me I am not lying. Seeing is believing.

 

[ahmeddsid]

Sorry buddy we cant even think in settling a country where a girl marries a dog or frog. It looks like Dogs and frogs have better values than normal Indian male.

Its good see Indian economy is growing but whenever you visit Pakistan , I would request you not to get jealous when you see hi tech things which you could rarely find in India. I have been to India couple of times and visited bombay, dehli and Banglore but they are no way near to Karachi, Lahore and Islamabad.

Trust me I am not lying. Seeing is believing.

And Bangalore is the new Silicon valley, and Delhi is hosting the comm games! the grapes must be sour! hahahah no offence by the way

 

[koolio]

And Bangalore is the new Silicon valley, and Delhi is hosting the comm games! the grapes must be sour! hahahah no offence by the way

Sorry Bro disagree with you on that just recently Satyam and Wipro companies have been involved in massive fraud they are also barred from the World Bank doing any business for good few years so obviously this will have huge detrimental effect on consumer confidence and besides the world economy is on the decline it will take probably a good few years before there are any signs of any economic recovery.

As for Delhi hosting the games good luck.

 

[koolio]

-karachi has asia's largest slum (tollytown or something)
-Mumbai has over 100 skyscrapers over 40 stories U/C
-karachi has barely any
-Delhi is even better than Mumbai (metro, brts, flyovers, etc...)

go to SSC and look at pictures they dont lie,

Have you visited Karachi or any of Pakistani cities?

Before making any assumptions its better if you visit those places before coming to any conclusions.

 

[Incredible India]

I have been to India couple of times and visited bombay, dehli and Banglore but they are no way near to Karachi, Lahore and Islamabad.
Trust me I am not lying. Seeing is believing.

I wonder most of Pakistanis in this forum had visited India for "a couple of times". I have a doubt... is it that easy for a Pakistani to visit India? And why do they want to visit if they hate India so much?
Pls... dont make it an issue.. its just my doubt..

 

[shrivatsa]

Sorry Bro disagree with you on that just recently Satyam and Wipro companies have been involved in massive fraud they are also barred from the World Bank doing any business for good few years so obviously this will have huge detrimental effect on consumer confidence and besides the world economy is on the decline it will take probably a good few years before there are any signs of any economic recovery.

As for Delhi hosting the games good luck.

Do u no who gained those business from wb after these bans, tcs another Indian company.what massive fraud did wipro do kindly enlighten us

 

[ejaz007]

India's textile sector faces life or death struggle amid downturn
(AFP)
20 January 2009


NOIDA, India - Neeraj Bhasin's basement factory outside New Delhi is dark and dingy, but there's just enough light to see the dust that has accumulated on the order catalogues sitting on his desk.

At one time Bhasin's 22-year-old textile export company, Eastern Connexion Exports, received regular orders for home furnishings from France, Spain and Scandinavia.

But the economic meltdown in the major export markets of Europe and the US has led to a substantial fall in foreign orders and could be the final nail in the coffin for many of India's small- and medium-sized textile houses.

Now the colourful organza curtains, floor cushions and quilt covers that were once produced in bulk sit in boxes and are piled high on tables as the company's profits have steadily shrunk.

The global financial crisis is more grim news for India's second-largest industry, which has already seen 700,000 workers laid off and is set to shed another 500,000 jobs in the next five months, industry and government figures show.

The textile sector employs almost 38 million workers and accounts for eight percent of India's GDP.

In 2007-08 it was worth 22 billion dollars, but even before demand in the US and Europe started falling, the high value of the rupee and a spike in the cost of raw materials left textile exports more vulnerable than other sectors.

Industry representatives responded coolly to a government stimulus package announced in December, which included a four percent cut in value-added tax aimed at bringing textile prices down.

They said such packages would do little to stem the decline in demand in major export markets caused by the economic slowdown.

"This doesn't really get addressed by any new investment," said Subir Gokarn, chief economist of Standard and Poor's Asia-Pacific division.

New economic packages help companies see through the recession by allowing them to hold on to cash they already have or by injecting short-term liquidity, said Gokarn.

"That's some relief but it's not going to make up for the fact that markets are in very sluggish conditions," he said.

Entire sector in danger

R.K. Dalmia, chairman of the Confederation of Indian Textile Industry, said the government should give textile companies some debt relief during this crisis or else there could be a sector-wide default on loan repayments.

"We are not asking for any bailout package like the US and other countries.We are asking the government to give us certain benefits which are legitimate to our industry," Dalmia said.

Bhasin was less than enthusiastic about relief packages.

"If I don't have the business why would I need the credit?" he asked.

Bhasin said he has seen his business survive a few downturns in years in business but this is "definitely the longest" period.

At its peak, Eastern Connexion employed up to 700 people representing every socio-economic level, from shop floor workers to quality control specialists.

His four-storey factory in the New Delhi suburb of Noida once bustled with more than 150 workers, but hard times have forced him to rent out every floor except the basement, where only 15 employees remain.

Inside, a lone worker, Babli, sits at one of the six sewing tables, snipping away at sheer white fabric.

He said he has worked in Bhasin's factory for 14 years, and while he is aware of the problems in other countries that have affected his work, he is hopeful that he will still be able to support his wife and three children.

"The company is still going," said Babli while fiddling with a tape measure around his neck. "There are problems, but it's in God's hands."

He said he worries his friends working in the same sector will have to return to unemployment in their villages if work in the city dries up.

Much of India's textile industry is still traditional, relying on manual work in rural areas in Punjab, Gujarat and southern India, but there is plenty of work in urban centres to employ villagers.

Job losses on the horizon

If things keep going the way they are, Bhasin said he may have to call it a day and let go of loyal employees like Babli.

"I'm not going to be running myself into the ground just because I've set up an industry," said Bhasin. "Whether or not I want to do anything for them, I can't."

Bhasin said he had considered shifting his focus to the domestic textile market, which makes up 50 percent of all demand. But poor infrastructure and problems in collecting payment from Indian retail buyers leave little incentive for him to restructure.

And trying to look for new textile markets outside the US and Europe is also fruitless.

"All of the other countries to whom you could think of exporting are also major exporters themselves, so this is a very unique problem for the textile sector," said Gokarn, referring to Bangladesh, Vietnam and China.

He said markets would have to improve within six months or so because "beyond that it's very difficult to keep unviable businesses up for very long".

Bhasin hasn't given himself a time-frame for waiting out the recession, but is pessimistic.

"When you have to sustain yourself over a long period of time, there is a breaking point," he said.


Business : India's textile sector faces life or death struggle amid downturn

 

[duhastmish]

I wonder most of Pakistanis in this forum had visited India for "a couple of times". I have a doubt... is it that easy for a Pakistani to visit India? And why do they want to visit if they hate India so much?
Pls... dont make it an issue.. its just my doubt..

sir

i am an Indian and visited Pakistan, i can tell you its all paranoia in head cause when u get there its just like Delhi or Bombay same people--- there are no monster---- . yeh somehow the cities of Pakistan and India are smiler but i guess Indian cities are changing rapidly and this transformation is making them better (in function) than Pakistani cities. although as my own opinion these utopian changes make city loose their culture. any how - these jobs will be always a big boost to India but i still hate multi national for providing lame pays.