The Indian economy is growing at a robust pace, and has somewhat been able to survive the slump around the world. Most research finds industrial development in India leading to increased hiring. The Government of India is hard at work to generate more jobs and employable citizens through initiatives like Skill India and Digital India.

There has also been an increase of almost 40% in FDI inflows between October 2014 and June 2015, which has further pushed the industrial development in India by creating several jobs, especially in the manufacturing sector. It is safe to say that the Indian job market is booming, and there’s a strong need to bridge the skill gap that currently exists in the nation so that more and more citizens can benefit and find the best jobs. Here we analyze the industries that are growing fast and are expected to be the drivers of the Indian job market.

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Information Technology

Without a doubt the IT industry in India employs the largest number of people and according to industry experts it’s only going to increase. The IT jobs in India are on a roll and the future looks even brighter.  According to sources, the best jobs in India are created by the IT industry, generating 2.5 million direct employments. India is now one of the biggest IT capitals of the modern world and all the major players in the global IT sector are present in the country. This growth has also led Prime Minister Narendra Modi to start the ‘Digital India’ project to give the IT industry in India a secured position worldwide. According to Gartner, the top five IT service providers in the India Job Market are Tata Consultancy Services, Infosys, Cognizant, Wipro, and HCL Technologies.
Manufacturing and Production
The manufacturing industry in India has gone from near extinction to something that can draw no parallel. The Indian economy is flourishing at the moment and will continue to do so with FDI, having received a dramatic boost from the launch of the ‘Make in India’ initiative. With the demand for electronic hardware expected to rise rapidly, our country has the potential to become an electronic manufacturing hub by 2020, thereby generating the best jobs in India. While Lenovo announced that it had begun manufacturing Motorola smartphones at a plant in Sriperumbudur near Chennai, Foxconn announced that it would invest US$ 5 billion over five years to set up R&D and build a hi-tech semiconductor manufacturing facility to be set up in Maharashtra. General Motors had also announced that it would invest US$ 1 billion to begin manufacturing automobiles in the state.

Financial Services & Banking

The Banking Sector in India is likely to witness a substantial growth due to increased FDIs and international banks wanting to open their branches here. Apart from this, many foreign banks are trying to acquire local incorporations to get near-national stature. According to KPMG-CII report, India has the potential to become the third largest banking industry in the world by 2025. This will mean that the Banking sector will eventually offer the best jobs in India adding value to the India job market in both private and public sectors.
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India is currently the world’s second-largest telecommunications market and has the third highest number of internet users in the world. This trend has registered strong growth in the past decade. The Indian mobile economy is growing rapidly and will contribute substantially to India’s GDP. According to sources, India will emerge as a leading player in the virtual world by having 700 million internet users of the 4.7 billion global users by 2025. Swedish telecom equipment maker Ericsson has announced the introduction of a new radio system in the Indian market, which will provide the necessary infrastructure required by mobile companies in order to provide fifth-generation (5G) services in the future.
The Indian tourism and hospitality industry has materialized as one of the key drivers of growth among the service sectors in India. It contributes to 6.23 percent to the National GDP and 8.78 percent of the total employment in the country. Constant upgradations and improving standards of the hospitality industry in India have gained approval all over the world. According to the World Tourism Organization, the Hospitality sector will create the best jobs in India as foreign tourism is expected to reach 15.3 million by 2025. In addition, online hotel bookings in India are expected to double by 2016 due to the increasing penetration of the Internet and smartphones.

Healthcare has become one of India’s largest sectors – both in terms of revenue and employment. The Indian healthcare sector is growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by public as well private players. India’s competitive advantage lies in its large pool of well-trained medical professionals. India is also cost competitive compared to its peers in Asia and Western countries. The cost of surgery in India is about one-tenth of that in the US or Western Europe. According to sources, the total industry size is expected to touch US$ 160 billion by 2017 and US$ 280 billion by 2020. These are just some of the sectors that are expected to see good hiring and employment growth, but the outlook is also positive for most other sectors. It therefore becomes necessary for job seekers and professionals to keep themselves up-to-date with the latest skills available in the market. betterU has online courses across industries that can give you the right boost to start on the career of your choice.

Check out our courses on the following industries: Information Technology, Manufacturing, Financial Services & Banking. And many more that can help you give the best start to your career!