Mumbai: Majority of manufacturing companies plan to hire more people in the next three months amid increasing domestic demand, according to a survey.
A TeamLease ‘Employment Outlook Report’ for the fourth quarter on Tuesday said the positive higher hiring sentiment is driven by large scale enterprises (69 per cent), followed by medium (44 per cent) and small (39 per cent) businesses.
The findings are based on a survey of 301 manufacturing companies across 14 cities in India.
More than 60 per cent of employers in the manufacturing segment aim to recruit and expand their resource pool.
The overall intent to hire for both the manufacturing and services sectors combined has grown to 68 per cent in the said quarter from 65 per cent in the third quarter, it said.
“The global employment rate has increased considerably post the last Covid-19 wave and is poised to grow stronger in the coming quarters. With domestic demand increasing, despite stringent external conditions, the manufacturing industry is projected to witness all-encompassing growth.
“Moreover, the government’s agenda to drive ‘Make in India’ and the introduction of reforms to boost domestic manufacturing will enable India to become a more attractive destination for investments, thereby impacting employment positively,” TeamLease Services Chief Business Officer Mahesh Bhatt said.
The intent to hire is greater in metro and Tier I cities (94 per cent) compared to Tier II cities (73 per cent), Tier III (43 per cent) and the rural sector (23 per cent).
The cities with the highest intent to hire are Mumbai (97 per cent), Bengaluru (94 per cent), Chennai (89 per cent), Delhi (84 per cent) and Pune (73 per cent), it said.
PTI
