April 3, 2024
1 min read

Rapid Rise in India’s Hiring

The IT sector is at the forefront of the gig boom…reports Asian Lite News

India saw a 3 per cent monthly rise in hiring in the months of February and March, as white-collar gig jobs skyrocketed 184 per cent (year-on-year), a report showed on Tuesday.

Additionally, gig workers, representing a vital workforce segment, expanded by 21 per cent over the same period, highlighting companies’ increasing reliance on freelancers and independent contractors to meet business needs, according to the report by foundit (formerly Monster APAC & ME).

The IT sector is at the forefront of the gig boom and the share of IT software in the gig economy has nearly doubled, jumping from 22 per cent in March 2023 to a dominant 46 per cent in March this year.

“The metro cities of Delhi, Bengaluru and Mumbai are paving the way for gig jobs. We expect the gig economy to grow even more in the next few months, so it’s prudent for job seekers to equip themselves with relevant skills that will make them stand out in a competitive market,” said Sekhar Garisa, CEO, foundit.

Advertising and marketing also witnessed significant growth, with the share of gig jobs increasing from 5 per cent to 18 per cent over the past year.

The IT sector saw a marginal decline from 7 per cent growth in February to 2 per cent in March.

The banking/financial services and insurance (BFSI) sector reported stagnant growth.

Engineering, cement, construction and iron/steel maintained a steady growth rate in March, the report noted.

Further, the government, public sector undertakings (PSUs), and defence sectors experienced a slight uptick in hiring activity.

ALSO READ: Now’s Prime Time to Invest in India!

Previous Story

‘Myth vs Reality Register’ to combat misinformation

Next Story

SC grants bail to AAP’s Sanjay Singh

Latest from Business

PM Modi: India poised to lead next tech wave

PM Modi underscored that the country is poised to lead the next wave of digital transformation in 5G…reports Asian Lite News Prime Minister Narendra Modi on Wednesday hailed India’s progress in expanding

India Hits 100GW Solar

The expansion is not only in scale but also in quality, with significant capacity dedicated to high-efficiency modules. Many manufacturers have adopted vertically integrated operations, enhancing quality, reducing costs, and improving resilience

Jewellery Exports Shine Bright

The GJEPC noted that product diversification has played a major role in sustaining momentum. Lightweight and contemporary designs are gaining traction among younger global consumers, helping Indian jewellers appeal to a wider

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics
Go toTop

Don't Miss

‘Modi’s Oversight Drives India’s Growth’ 

Dutta noted that with infrastructure being a key focus of

Limitless Luxe Noida: Where Luxury Meets Unparalleled Experiences

Limitless Luxe Noida, is a destination for luxury and extravagance.