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| Outsourcing
Services |
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Accounting
& Finance |
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Financial Accounting |
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General Ledger |
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Accounts Payable |
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Accounts Receivable |
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Billing |
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Payroll |
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Bank Reconciliation |
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Financial Analysis |
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Budgeting & Forecasting |
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Tax
Preparation Services |
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India Today Survey, February
2005
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| As
per an India Today study, the highlights of the job market in India
in 2005 are: |
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| 1. |
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New jobs
are likely to grow at a high rate of 22% in 2005 as against 18% in
2004. |
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| 2. |
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IT and ITES
sector will be the top job creator with 2.75 lakhs. |
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| 3. |
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The largest
pay hike will be seen in India in 2005 at a rate of around
14.2%. |
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| 4. |
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The National
Capital Region will generate the maximum number of jobs
across all sectors. |
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| 5. |
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The sectors that will create the most
jobs in 2005 are likely to be IT & ITES (2,75,000),
textiles (2,00,000), telecom (90,000), retailing (30,000) and financial
services (75,000). |
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| 6. |
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The top 10 emerging
job creating sectors are hospitality, biotech, education
& training, animation, aviation, event management, R&D, fitness
consultancy, fashion designing and NGOs. |
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| 7. |
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In terms of
city preferences - The top 5 cities which will create the
maximum number of jobs are National Capital Region, Bangalore, Chennai,
Hyderabad and Mumbai. National Capital Region will create the maximum
number of jobs in most sectors. Bangalore will continue to ride the
technology boom. Chennai is the third largest job creator in the old
and new economy. Hyderabad is ahead of Mumbai as a result of the IT
boom. Mumbai will be the fifth largest job creator. |
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| 8. |
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Employees of all
qualifications are in demand. Though engineers and MBAs
from IITs and IIMs are the most coveted, ordinary graduates are also
being sought out for the BPO and retailing sectors. Plain graduates
who can speak fluent English are being hired by fast food restaurants,
coffee shops, large departmental stores and telemarketing firms as
delivery boys and sales staff. Even semi literate and unskilled workers
are in demand by sectors such as textile and retail. |
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| 9. |
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Despite the upbeat mood about the urban
job boom, India's overall unemployment rate is one of the highest
in the world at 9.2%. As per a recent Planning Commission report,
it will rise to 11% by 2007 which will translate into around 45 million
jobless Indians. Around 7.6 million people enter the workforce every
year in India. |
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