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According to a survey by Kelly Services, professionals in India enjoy healthy employment prospects. Despite tighter economic markets in Europe and the US which has led to softening labour market conditions in some Asian countries, confidence is starting to bounce back.
The survey found that economic growth across Asia Pacific was soft last year, but still strong compared to other regions in the world. But key markets such as India and China should see some form of economic improvement this year. The GDP growth rate in India is set to rise to nearly 7%.
Kamal Karanth from Kelly Services said: “In spite of the economic downturn, some of the sectors in India are likely to add jobs. Post the lull of 2012, IT & ITES will add few jobs to service the contracts they won in Q3 of 2012.
“On the Industrial side there will be a status quo with automobile Industry slowing manufacturing down. Telecom will continue to struggle with margins, spectrum issues affecting them. Banking and financial services sector will not see any major addition with global impact slowing their India intentions.
“The Consumer Industry like FMCG, FMCD, Retail will see an incremental addition of jobs. Pharma & Healthcare Industry will expand and see more jobs addition. Ecommerce and Education industry will see robust growth in 2013. In all, India would see a net addition of just under a million jobs and that means 2013 will be better than 2012, but less attractive than 2011 in terms of jobs addition.”
But Kelly Services also predicts Indian unemployment to rise to 9.4% in 2012, up from 9.3% in the previous year.