In contrast to the 28 percent rise seen last year, Indian employers are expressing a cautiously optimistic recruiting intent of 20 percent for 2023, according to the Decoding Jobs 2023 India Report by Taggd, which was produced in partnership with the Confederation of Indian Industry (CII). The solid economic performance of India’s economy in the face of greater global challenges, particularly driven by a strong push in the manufacturing and engineering sectors under India’s flagship ‘Make in India’ programme, may be credited for the good hiring momentum. Download the report offline for free and get complete insights by clicking here: https://taggd.in/sectoral-report/decoding-jobs-2023-india-report/?utm_source=Organic&utm_medium=PR_Site_PRfree&utm_campaign=Decoding-Reports-Download-Organic

Broad recruiting trends indicate that the automotive (30%), manufacturing (25%), and financial services (24%) industries will continue to dominate India’s demand for people, with internet businesses (19%) and the pharmaceutical and healthcare (16%) industries trailing behind. A modest 10 percent increase in hiring is anticipated in the IT industry. Yet, traditionally non-tech sectors including manufacturing, agriculture, and pharmaceuticals will see an increase in demand for IT skills. GICs are anticipated to report a 29 percent hiring rise in 2023, down from the 36 percent reported in the previous year, as the global in-house centres or global captive centres continue to develop in India. and will also see a lot more recruiting. According to the survey, 54% of businesses are shifting their hiring efforts away from tier-1 cities and towards developing talent centres, demonstrating how popular non-tier-I cities are for attracting top talent. The research also notes a decline in women’s participation from 36% in 2021 to 33% in 2022.

In the presence of Shri Atul Kumar Tiwari, Secretary, Ministry of Skill Development and Entrepreneurship, Government of India, the report was formally unveiled at the Decoding Jobs Annual Conference. Dr. Raajiv Singhal, Member, CII National Committee on Skill Development and Livelihood, and Founder Member, Managing Director & CEO, Marengo Asia Healthcare were among the dignitaries present at the occasion. The Hon’ble Union Minister for Labor and Employment, Shri Bhupender Yadav, was also given a copy of the report for his assessment.

The President of Taggd, Mr. Devashish Sharma, elaborated on recruiting predictions for 2023 by saying, “Companies may start the calendar year 2023 on a cautiously optimistic note, however, we expect hiring to pick up in the following months, driven by existing as well as new demand for talent. India has successfully attracted and maintained huge levels of FDI, both from individual investors as well as large multinationals that have helped propel the economy forward. The local consumer markets have also had a pivotal role to play as India brings in equilibrium in the current state of global market headwinds.”

More than 600 attendees, including government representatives, CEOs, CHROs, HR Heads, talent acquisition leaders, and senior talent acquisition practitioners, attended the conclave. The conclave’s subject was “India: Safe shores amid global troubles,” and corporate executives and CHROs deliberated on changes in the employment market against the backdrop of India as the most attractive location for companies seeking steady and long-term growth.

About Decoding Jobs Report

The Decoding Jobs Report is an annual compilation of two separate qualitative and quantitative research that Taggd conducts in association with the Confederation of Indian Industry (CII). Decoding Jobs India Report, which was released in 2019, aims to comprehend hiring intentions across seven significant non-farm organised sectors, track changes in the job market in each sector, and present the perspectives of key figures from the job ecosystem, including the government, academia, and business.