business-india-news

IT, pharma industries to be key job creators in 2014: Assocham

New Delhi, Dec 29 : Information technology (IT), pharmaceutical, agri-based industries and banking sectors will remain the largest employment generation sectors in 2014, industry lobby Associated Chambers of Commerce and Industry of India (Assocham) said in a recent report.


"These sectors will stand out despite the fact that the present state of economy where in a large majority of sectors, net employment is being lost and not created does not support large scale employment," the study said.

The report said that employment generation in India will benefit from economic recovery in the US.

"A large number of American firms are expected to increase their IT spend as consumer sales pick up there. Over 60 per cent of the India's 75 billion software and service exports are dependent on the US market," the report said.

The report further said that top end IT firms and consulting firms will remain active in campus recruitment in 2014.

"Since our economy still remains a good mix of organised and unorganised, large corporates and small enterprises, a large number of people in rural India dependent on agriculture and the tertiary industries, there are inherent and inbuilt strengths which come handy when the chips are down," Rana Kapoor, president, Assocham said.

The report also reveled that recruitment from the pharmaceuticals sector would remain active, though the aggregate number would be much smaller than the IT sector, followed by agro-based industries.

"Agriculture sector has posted robust growth in 2013 and is likely to do so in 2014, based on better prospects for the Rabi crop. The positive spin off would be evident in a whole lot of industries which are directly linked," the report said.

The report added that banking sector will be another employment generators in 2014, particularly in the public sector.

"A huge number of backlog vacancies have to be filled up in the public sector banks.
For the private sector, new licences likely to be given before April, will throw new opportunities," the report added.

--IANS (Posted on 29-12-2013)

business-india-news headlines

RIL raises $550 mn from Japanese banks

OPEC daily basket price closes lower

Rupee slips below 61 against the dollar

Minawala opens store in Mumbai

Motorola appoints Amit Boni to General Manager of India

RIL signs loan co-financed by JBIC

Sensex hits record high for third straight day

Franklin Templeton Investments to launch new fund scheme

Micromax launches Canvas Doodle 3

IFC focus on e-payment systems

Toyota India resumes operations as workers return

Tata Elxsi net zooms 239 percent in fiscal 2013-14

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top