By Vipin Agnihotri
The India Street has good news for Indian students who are going to pass out from the college very soon. There is going to be one million new jobs in India this year. This is also great news for people who are interested in changing their job profile. One of India’s biggest HR consultancy firm, Ma Foi has predicted in his Ma Foi Employment Trends Survey (METS) that there is going to be a 3 per cent increase in employment in 2008.
In my opinion, the majority of new jobs would be generated by hospitality sector, which by the way is riding high with the tourism boom in India. In terms of city, Ma Foi has predicted that Mumbai will generate the highest number of jobs, followed by Delhi, Chennai and Kolkata.
Apart from hospitality sector, health sector and education training sector will also generate quite a bit of new jobs this year. According to experts, India is all set to have around 40 international hotel brands by 2011. The pivotal factor here is that the boom in the tourism industry has had a cascading effect on the hospitality sector, which was a result of the increase in the occupancy ratios and average room rates.
Information technology (IT) and information technology-enabled services (ITES) sectors will also create new jobs this year but it will not be that high as compared to hospitality and health sector. The Indian health services sector is estimated to be around Rs 75,000 crore and is all set to grow by 170 per cent by 2012.
Slowdown in the Indian economy will not affect the employment growth of the country. According to Ma Foi, demand for freshers is more than 30 per cent in sectors like hospitality, energy generation and supply sector, ITES, and mining and extraction.
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