NEW DELHI: From the sluggish pace of hiring, the IT sector has bounced back strongly in September as there was an 18% year-on-year (YoY) growth in hiring. Among cities, Jaipur led with a 47% YoY increase in IT roles, followed by Kolkata at 32%, according to data from the Naukri JobSpeak Index.
Like previous months, Artificial Intelligence/Machine Learning roles surged by 31%, indicating increasing demand for tech talent. The IT sector also saw a 35% y-o-y growth in hiring for professionals with over 16 years of experience. Unicorns and foreign MNCs were key drivers of this growth, with 16% and 14% y-o-y increases respectively, the report showed.
Similarly, Global Capability Centers (GCCs) recorded a 12% YoY growth in hiring. GCCs of management consulting firms led this growth with a 50% YoY increase, followed by the heavy machinery sector at 40%. Regionally, Kolkata and Bengaluru were hotspots for GCC hiring, with 18% and 16% YoY growth, respectively.
Recently, Knight Frank India, in its latest report – India Real Estate: Residential and Office Q3 2024 cited that Bengaluru led the growth of the commercial market, accounting for 28% of the 19 mn sq ft of transactions across the top eight cities.
The city saw a YoY growth of 158%, mainly driven by the establishment of GCCs by corporations. The Naukri report also pointed out Mumbai and Bengaluru emerged as key drivers in the FMCG sector as the FMCG roles are growing by 49% and 43% respectively in these cities. Pawan Goyal, Chief Business Officer of Naukri, said after a prolonged period of hiring stress, it is exciting to see the robust recovery in the tech sector.
“It’s particularly encouraging to see IT, BPO, AI-ML roles, and GCCs, all performing well,” he added. There has been significant hiring in manufacturing sector. “The Indian manufacturing sector is growing fast, with a 40% increase in job postings from 2022 to June,” said Sashi Kumar, head of sales, Indeed. “Jobs like CNC operators and production supervisors are in high demand,” he added.
