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Hire in India

Introduction

The India Skills Report 2021 expects a 4% increase in recruitments in 2021. The growth of the remote work culture in the last year and a half and a robust digital framework have contributed toward the increase in cross-state and cross-border hiring in the country.

The Skills Report further states that almost 40% of employable talent in the country is in the age group of 18 to 21 years. The report discusses the existing talent gap, the need to upskill the talent pool in the country. It estimates that India has about 45.9% of employable youth in 2021.

Skuad can provide you with all the details you need for your expansion efforts in India, from the availability of talent to hiring costs. Talk to a Skuad expert today!

Overview of India

Population

The population of India is 1.39 billion.

Gross Domestic Product (GDP)

The GDP is USD 2.86 trillion (INR 195.68 lakh crore) (FY21).

Economic Overview

Before FY17, India recorded a commendable growth rate of about 8.3%. Between FY17 and FY20, the growth rate decelerated to about 4% amid COVID-19 and the national lockdown in 2020. 

Market Size

The McKinsey Global Institute forecasts the need to create about 90 million jobs in India between 2023 and 2030 in the non-agricultural sectors. Estimates suggest that the net employment rate should increase by 1.5% to help the GDP rates stay afloat between 8% to 8.5%.

A Brief Glimpse of Industries

Under the Make in India and Digital India Program, the Government of India (GOI) has encouraged foreign companies to open their subsidiaries and facilities in India.

The India Brand Equity Foundation reported that the GOI plans to spend USD 36 billion or INR 2.65 lakh crores on sectors such as tourism and aviation, housing, and construction to create job opportunities.

Besides, under the progressive production-linked incentives (PLI) scheme, the GOI is committed to offering about USD 27 billion to create jobs in the country in the next five years.

The manufacturing sector has been given impetus under the Make in India initiative to contribute about 25% of the GDP.

The GOI has encouraged growth in the digital sector. It plans to focus on three core areas, namely, improving digital literacy, focusing on the delivery of services digitally and strengthening the digital infrastructure in the country.

The average download speed on fixed broadband in India is 53.90 Mbps, as per the Speedtest Global Index. The upload speed on fixed broadband is 50.75 Mbps.

According to the Hurun Report, the top 10 industries in India are pharmaceuticals, software and services, fast-moving consumer goods, chemicals and petrochemicals, automobiles and auto components, construction and engineering, financial services, food and beverages, textiles, apparel and accessories, and real estate. 

When you decide to hire a local workforce, please research the top industries where companies hire remote workers in a specific targeted location in India. Skuad’s experts can help you manage and streamline your expansion efforts smoothly.

Talent in India

If you are planning to expand globally, it is essential to know the most in-demand skills of the top occupation in a specific targeted location for remote workers; for example, marketing, sales, software, and customer service. Further, the pool of knowledge workers in India is growing. As knowledge workers think for a living, their knowledge is their main asset.

Knowledge Workers and Employability Talent in 2021

Stream Employability Talent in 2021 (in percentage)

Bachelor of Engineering (BE) and Bachelor of Technology (B. Tech)

46.82%

Master of Business Administration (MBA)

46.59%

Bachelor of Arts (BA)

42.72%

Bachelor of Commerce (BCom)

40.3%

Bachelor of Science (BSc)

30.34%

Master of Computers Applications (MCA)

22.42%

Master of Polytechnic (M. Tech)

25.02%

Bachelor of Pharmacy (B. Pharm)

37.24%

The top sectors that are expected to hire in 2021

No. Industrial Sector % Change in Hiring, Sector-wise (from 2020 to 2021)

1.

Automotive

10%

2.

BFSI

27%

3.

Core & Energy

30%

4.

Engineering & Manufacturing

33%

5.

Internet Business

25%

6.

Others & Diversified

32%

7.

Pharma & Healthcare

37%

8.

Software/Hardware & IT

25%

9.

Retail

21%

10.

Logistics

29%

Top Skills in India

Three hundred million people in the age group from 20 to 34 years comprise a huge talent pipeline that cannot be ignored by companies keen on global expansion. The employable talent makes India an ideal hiring market. Augmenting these numbers, another 250 million people in India are in the age group from 10 to 19 and will be employable in the next five to 10 years.

India’s top skills are,

  • Technology
  • Finance
  • Media and entertainment
  • Law
  • Energy
  • Real estate
  • Statistical analysis
  • Banking and financial services

Top Skills in India by City

Mumbai

Skill Skillset

Media

Movie and TV production

Brand strategy and management

Entertainment

Music production

Public relations (PR) and communication

Finance

Risk management

Bangalore

Skill Skillset

IT and Computing Skills

Integrated circuit design

Embedded system

Storage system and management

Software modeling

Process design

Gurgaon

Gurgaon, the Millennium City of India, has a growing talent pool in real estate, telecom, data mining, statistical analysis, market research and insights, and strategic planning.

Kolkata

Kolkata’s talent lies in the financial sector, with skill sets in banking, accounting, and taxation. Food and beverage is another growing sector in the city.

Pune and Hyderabad

Pune and Hyderabad have top-quality talent pools of database professionals.

Further,

  • Law professionals are mostly in the northern parts of India, in cities such as New Delhi, Patna, Lucknow, and Allahabad.
  • Energy-related expertise is found in tier-II cities such as Surat, Nagpur, Vadodara, Visakhapatnam, and Jamshedpur.

Talk to Skuad experts for information regarding recruiting talent in India.

Hiring Cost

The cost of hiring local talent in India plays a pivotal role in your expansion plans. The cost of hiring in any location depends on the cost of living, the rent, expenses on groceries, restaurants, and local purchasing power. For example, when you hire an employee in Gurgaon or Mumbai, you need to consider the real hiring costs, including

  • Recruitment costs including interviews, screening, and hiring
  • Onboarding costs
  • Opportunity costs

Cost of Living in India

The overall cost of living in India is as follows:

  • The estimated expense of a single person in India every month is INR 24,167.77 (excluding the rent). This amounts to USD 1,157.
  • The estimated expense of a family of four is about INR 84,088.68 every month (excluding the rent). This amounts to USD 333.
  • The average rent in India for a one-bedroom apartment in a city center is about INR 11, 910.85 or USD 910.85, while that for outside the city center is about INR 7,464.35 or USD 102.16.

Cost of Living by City

The cost of living in the top 10 cities of India has been represented in the table below.

City Cost of Living Index Rank

Gurgaon

33.19

1

Mumbai

30.71

2

Chandigarh

30.15

3

Navi Mumbai

30.01

4

Noida

29.04

5

Goa

28.63

6

Bangalore

28.04

7

Thane

27.97

8

Kalyan

27.92

9

Delhi

27.89

10

Detailed Break-up of Cost of Living in by City

City Rent Index Average Rent Groceries Index Restaurant Index Local Purchasing Power

Gurgaon

10.51

INR 30,000

33.35

28.08

70.65

Mumbai

23.12

INR 45,000

31.27

25.82

40.09

Noida

6.63

INR 15,000

28.36

23.18

51.11

Bangalore

8.98

INR 17,000

30.28

19.81

72.10

Get in touch with Skuad to obtain tailor-made solutions for your expansion efforts with all the key details regarding the costs associated with hiring in India.

Employment Laws in India

Get in touch with Skuad to book a demo and learn more about the employment laws in India.

How Can Skuad Help You in Hiring in India?

Hiring in India is a multi-faceted task that requires in-depth knowledge of the laws, trends, hiring costs, and the cost of living in different cities. Skuad comes onboard as a one-stop solution handling every minute aspect of recruitment. It gives you the freedom and time to focus on your expansion plans without any stress.

Connect with Skuad experts to know more.

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