Hindustan Times
July 19, 2005 |
The liberalisation of the Nineties, the IT boom of the 21st century, the WTO multi-fibre agreement in January 2005 — these and numerous other events have radically changed the Indian job market. So think before you send in your CV or plan your higher studies. Do some research. As a first step, read this.
Hello, this is telecom
Riding on the back of falling call charges, a large number of private players and government deregulation the telecom sector is witnessing a huge demand for people. This is the best industry for you to have your nifty office in. Call now.
IT, girl!
With estimates of almost 1 million jobs by the end year 2005 — as declared by Nasscom — Information Technology (IT) and IT-enabled Services (ITES) tops the list of almost all-major consultants, small or big across the country. Moving down marginally from No. 1 and No. 2 from the last quarter‘s (January-March 2005) ranking list, IT and ITES stood at No. 2 and No. 3 this quarter (April-June 2005) in the Ma Foi Employment Survey (MEtS). MEtS measures employment generation — or the intentions of an employer to increase the number of employees in their workforce in the next quarter. In terms of compensation, IT and ITES jointly stand at No. 2 according to Hewitt Associates’ 9th Annual Salary Increase Survey. The projected salary increase for 2005 is 15 per cent.
That’s Entertainment
But if you’re interested in the sector with the fastest growing salaries, ladies and gentlemen, think of the entertainment, publishing and media industry. With a 19 per cent increase in salaries projected by Omam Consultants and a slightly more conservative 15.4 per cent by Hewitt Associates, this sector is ranked No. 2 in terms of compensation. Ask us, we should, er, know.
Wag the Retail
The next big thing, however, is going to be retail trade. With AT Kearney classifying India as the ‘Hot Destination’ in its global Development Retail Index 2005 and with a growing middle- class and, therefore, growing purchasing power, the sector is all ready to boom. Only 2 per cent of the retail in India is organised and there is lots of scope for growth. And just in case you want figures to reassure you, the sector is estimated to reach Rs 1,000 billion by 2010 according to KSA-Technopak. Ranked No. 4 in MEts this quarter, it is up three places from 7th position in the last quarter. With a clutch of foreign retail chains like Walmart waiting in the wings for the government to relax FDI rules, this is definitely the next hottest sector in India. So round up the usual shoppers.
Money keeps talking
The financial services sector will also see an increase in salary with investment banking and asset manage-ment companies coming in No. 3 and No. 5 respectively in terms of projected salary increase for 2005. Omam Consultants include banking in the Top Ten in terms of job opportunities.
Suiting, Shirting: Textiles are sizzling due to the multi-fibre agreement in January. The Indian textile sector forecasted to grow $ 100 billion and create almost 5 million direct jobs by 2010.
Also included in the Top Ten are pharmaceuticals, hospitality, transportation and logistics and infrastructure.
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