As the global workforce continues to experience layoffs, particularly in the tech sector, India’s job market shows a positive trend. According to a report released on Wednesday, India’s IT sector is making a comeback, having seen a decline over the past few months in line with the global meltdown. The report showed that hirings in India saw a 9% sequential growth in February. This news comes as a relief to many in the tech industry, who have been struggling to find jobs amid the ongoing economic downturn.
The report, by Naukri JobSpeak, revealed that the number of new jobs in the IT sector increased by 10% in February, compared to the previous month. This trend was particularly strong for specialist roles such as analytics managers, big data engineers, cloud system administrators, and augmented reality QA testers, which saw growth rates of 29%, 25%, 21%, and 20%, respectively. The demand for DevOps and DevSec engineers also increased by 19% and 18%, respectively, which outpaced the demand for data scientists and software developers, which saw growth rates of 17% and 11%, respectively.
Other sectors also saw positive growth in new jobs. The real estate, hospitality, and healthcare sectors all saw double-digit sequential growth rates of 13%, 10%, and 10%, respectively, in February over January. Similarly, sectors such as banking, BPO, and retail all showed upward trends, with the number of new jobs increasing by 9%, 7%, and 7%, respectively, over the previous month.
“The IT sector, which had been experiencing negative trends in the past three months, showed a sequential growth of 10%. This growth is an indicator of changing hiring sentiments within the IT space,” said Pawan Goyal, Chief Business Officer, Naukri.com.
In terms of geographical locations, Chennai, Hyderabad, Bengaluru, and Pune witnessed double-digit growth in hiring activity among the top metros. Meanwhile, Coimbatore and Chandigarh, among the emerging cities, also saw a significant increase in the number of new jobs.
This positive trend in India’s job market comes as a surprise to many who had expected the ongoing economic downturn to continue impacting the country’s tech sector. However, the Naukri JobSpeak report indicates that the sector is showing signs of resilience, with a gradual increase in the number of new jobs being created. This is an encouraging sign for many who have been impacted by the ongoing layoffs and hiring freezes in the industry.
The report also reveals the changing nature of the job market, with a growing demand for specialists in fields such as analytics, big data, cloud systems, and augmented reality. As companies increasingly adopt digital technologies, there is a growing need for skilled workers who can navigate these new systems and technologies. This trend is likely to continue as more companies shift towards digital technologies in response to the ongoing pandemic.
Overall, the report provides a glimmer of hope for India’s job market, which has been hit hard by the ongoing economic downturn. While it remains to be seen whether this trend will continue, the positive growth in new jobs is an encouraging sign for many in the tech sector and beyond. With the right policies and investments, India’s economy may be able to weather the ongoing storm and emerge stronger on the other side.
