Expecting a boom again, the Indian industry is expected to accelerate its hiring by as much as 20 per cent in 2011, according to Human Resource experts.
According to a media report on Friday, pay packets too are expected to climb at a rate of about 20 per cent in the coming year, driven by the escalation of the talent war between companies operating in the country.
During the first half of the current calendar year, companies were cautious in hiring but their hiring activities gathered momentum in the second half of the year, the report said, adding that the coming year is expected to create over a million jobs in the organized sector alone.
Fast-growing sectors such as telecom, consumer durables and real estate will boost hiring activities, it stated.
Recently, leading US business magazine Forbes also reported that India would be the best country for new jobs next year, with a whopping 42 per cent net hiring outlook for the first quarter of 2011.
China follows close behind at 40 per cent, Taiwan comes in third, with a net employment outlook of 37 per cent, according to the Forbes report based on latest global employment outlook survey by the staffing firm Manpower.
According to the Government data, employment is projected to be 572 million in year 2014-15 as against 506 million estimated for 2009-10.
The 11th Five Year Plan aims at increasing private organized sector employment ambitiously, by at least 10 million. Along with the public sector, organized sector jobs would then expand by over 15 million, a growth rate of about 9 per cent per annum.