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Corporate India's hiring plans are expected to witness a pick-up in the coming months, as companies will not only hire for their core business areas, but also for positions that were on hold due to weak economic sentiments, experts have said, reports the Economic Times India.
Recent initiatives by the government and Reserve Bank of India to stabilise the rupee seem to have improved market sentiment and created a sense that better times are ahead. Investors and entrepreneurs have welcomed the moves.
Premlesh Machama, managing director of CareerBuilder India, said: "If the positive sentiment ultimately turns into a positive economic cycle, recruitments in coming months and quarters may also get a push due to investments and expansion plans.”
On account of rupee depreciation, exports from IT and some other sectors have become highly competitive, growing about 12% in July. The trend is expected to get stronger, experts said.
Bhupender Mehta, CEO of Changeyourboss.com, commented to the Times: "Even though the worst is not over yet, one can see the light at the end of the tunnel.”
Info Edge (India) CEO and Managing Director Hitesh Oberoi said to the Times: "Hopefully, the worst will be behind us soon and the market will start looking up in the second half of this year." Info Edge (India) owns job portal naukri.com.
Meanwhile, the latest Manpower Employment Outlook Survey also paints a bullish picture. According to the survey, India has emerged as the most optimistic nation in terms of hiring plans for the next three months after four consecutive quarters of relatively lacklustre forecasts.
The dramatic turnaround in employer confidence was mainly due to the recovery made by IT firms and allied companies.
A G Rao, managing director of ManpowerGroup India Group, added: "The future demands in the IT sector for skills would include Web analytics, design skills, IT languages, sector knowledge, understanding on security issues, database management and analysis skills.”
CareerBuilder managing director Mr Mehta added: “There is an influx of jobs available in the e-commerce space purely due to the current market trends. India for instance, is emerging as a new yet a strong name in e-commerce industry based on the acceptance as well as ever-increasing demand of e-commerce as a concept.”