India Inc to generate 42% more jobs in next 6 months

New Delhi, May 15 (UNI) Amid raising concerns over the 'hot in the pan' reservation issue, it has come to the fore that 42 per cent of the industry is seeking to recruit more employees in the next six months.

According to a survey released by the Federation of Indian Chambers of Commerce and Industry here today, ''With a significant 42 per cent of the participating companies reporting 'higher to much higher' emloyment in the next six months, the demand for talent is only going to further rise in the market.'' The 'Quarterly Business Confidence Survey (Q4 2005-06)' also found that there has been a shift from the services sector to the manufacturing sector, as a large number of manufacturing companies are drawing up plans to add to their employee base.

''It was always the services sector which generated more employment but surprisingly this time the manufacturing sector has turned out to be more promising in terms of employment. The boom in this sector will hopefully start in next year,'' FICCI President Saroj Kumar Poddar told reporters.

Describing the overall outlook of the survey as 'highly positive and optimistic', Mr Poddar added that more employement avenues in the manufacturing sector would mean more wages leading to increased migration to the metros. ''Hence, the labour market will further tighten. The positive ramifications of inclusive growth can be looked upon now,'' he said.

Indicating that the employement index has gone to 37 from 33 in the last two rounds of the survey, the study said a majority of 54 per cent of the respondents had no plans for fresh hirings and 5 per cent had plans for retrechment.

Howver, Mr Poddar said as compared to the previous survey, it was a positive development.

Conducted in April for the fourth quarter of the fiscal 2005-06, the survey covered 439 companies across sectors including pharma, textiles, telecom, food and beverages, financial services, paper, BPO, travel and tourism, steel, cement and petrochemicals.

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