India Job Market would observe significant growth in the next five years

With the growing economy, India’s job market would also grow significantly in the near future. In the next five years the job market would grow to Rs.20 billion

Nitin Deveshwar, Managing Director, Esource India, said, "The growth in India's economy has helped bring about a tremendous growth in the manufacturing, banking and services sectors in the country. The job recruitment market here is set to grow at 20 per cent annum and touch the Rs 2,000 crore mark in five years from the present Rs 1,000 crore,"

The manufacturing sector of India is growing at eight to percent and would create 0.5 million jobs.

As big industries are moving towards small cities, many job opportunities would be created in those areas. Public and private banks would also hire large number of people in the coming years and expand their businesses in small towns.

On the other hand a recent survey by Monster India, a recruitment services firm, revealed that Indian corporate companies decreased hiring online by 5 percent in July despite growth in the job market. The “Monster’s Employment Index,” used to measure the monthly demand of India’s online jobs showed a drop of six points to 129 in July against 135 in June.