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.
Financial Services & Banking
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.