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India's leading staffing firms have generated over five million jobs in the last 10 years, according to the Indian Staffing Federation (ISF), reports the Economic Times India.
Rituparna Chakraborty, Vice President of the ISF, commented: "The flexible staffing industry has now and again proven itself as one of the key pillars necessary to sustain and accelerate the growth of the Indian economy.”
Pandia Rajan, President of the ISF, said last month: "The more there will be uncertainty, the more flexi-staffing industry will grow. Out of two crore (20 million) flexi-staff in India, only 13 lakh (1.3 million) come under the organised fold involving a tripartite deal among the staffing firm, employer and the client or flexi employee. We see almost +14% rise in number of organised flexi-staff to 16 lakh (1.6 million) across India and +18% jump in business volume for the industry this year. So there is a huge market waiting to be tapped.”
According to a study conducted by the National Sample Survey Organisation (NSSO), employment rates have fallen slightly for both men and women, but it has been somewhat sharper for women, falling to 22% in 2012 from 29% in 2005.
The workforce in the Indian staffing industry, is estimated to comprise 3% of total employment. A recent study by ISF predicts that this will increase to 10% by 2025.