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View All NewsIndia – Government initiatives to create more than 500,000 new jobs in 2017
Government initiatives in India such as Make in India and Smart Cities are likely to create more than 500,000 new jobs in 2017, reports the economictimes.indiatimes.com.
Recruitment agencies predict a demand for workers in rail and metro transport, construction, energy, especially renewables, ports and other infrastructure in India. This recovery in jobs can push salaries to an all-time high of INR 10 million (USD 147,982) for leadership roles. Overall, the increase in salaries at the top and mid-level will be about 30% in the next year, according to recruitment firms ManpowerGroup India, Kelly Services and TeamLease.
“The forecast till 2020 is that about 16 lakh (1.6 million) jobs in the space of new projects across all sectors would be added and by 2016-17 we are looking at over 5 lakh (500,000) new jobs being added from new projects,” Rituparna Chakraborty, president of the Indian Staffing Federation and TeamLease senior vice president, said.
Global Hunt, an Indian recruitment services firm, has 15 searches for project directors compared with two a year ago. EMA Partners, a UK-based executive search firm, has close to 10 for the same profile.
Moreover, the gap between supply and demand, may increase pay, especially in management positions, by 25-30%.
Other profiles in demand are project managers and programme managers with a preference for specialisation in engineering or technology in addition to finance experience.