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Employment Trends Survey 2012


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  • 1. Ma Foi Randstad2012 Employment Trends Survey
  • 2. in this report...Indian Economy – Improved outlook with pockets of concern?? methodologyData and? of employment generation in different sectorsEstimates ? Financial Services and Insurance Banking, Education, Training and Consultancy ? Energy ? Healthcare ? Hospitality ? Information Technology & Information Technology Enabled Services ? Manufacturing - Machinery and Equipment ? Manufacturing - Non-Machinery Products ? Media and Entertainment ? Pharma ? Real Estate and Construction ? Trade including Consumer, Retail and Services ? Transport, Storage and Communication ?Concluding Remarks?Appendix? A1: Expected Increase in Employment across Different Sectors A2: Expected Increase in Salary across Different Sectors - Lateral Job Shift A3: Composition of New Hires by Experience A4: Composition of New Hires by Functional Areas A5: Share of Different Hiring Sources for New Hires A6: City-wise Growth in Employment A7: City-wise Likely Increase in Salary - Lateral Job Shift A8 : City-wise Share of Different Experience Brackets amongst New Hires A9: City-wise Share of Different Functional Areas amongst New HiresThe Ma Foi Randstad Employment Trends Survey (MEtS), conducted by Ma Foi Randstad - India’s No. 1 Integrated HR services company, is astudy on the Indian employment trends and opportunities. Starting from November 2004 till 2008, MEtS was conducted once a year.Considering several shifts in employment dynamics even within a year’s time, MEtS was converted into a quarterly survey from 2010 tocapture the changes in employment scenario in India from one quarter to another.The primary objective of this employment survey is to understand the employment trends in the organized sector on a quarterly basis. Thepresent survey captures the employment situation in the organized sector during the fourth quarter of Calendar Year 2011 (from October toDecember 2011) and the likely scenario in the first quarter of the Calendar Year 2012 (January to March 2012). The study results are basedon a survey in December 2011 of 639 sample companies spread across 13 different sectors. The feedback was gathered from the top HRpersonnel or top management of the companies, who could share valuable insights on employment related issues. The major focus of thesurvey is to estimate the changes in employment scenario across sectors and space. The other issues highlighted in the survey are changes insalary in case of lateral hiring, recruitments for different experience categories and hiring for different functional roles.The report is presented in four sections. The first section (Section A) discusses the recent trends and an overall view of the Indian Economy. Itis followed by Section B which provides insights about the data and methodological aspects of the study. Section C presents a picture of thechanging pattern of employment in different sectors of the economy. A snapshot of the changing scenario in 8 selected cities is also given inthis section. The final section (Section D) concludes the study highlighting key issues.
  • 3. Indian Economyimproved outlookwith pockets of concernAccording to Prime Minister Manmohan Singh, the Indian On the back of the improving inflation scenario, RBI has alsoeconomy is expected to grow at around 7% in the financial indicated a halt in the repo rate increase. It last raised theyear 2011-12, lower than the December projection of 7.5%. repo rate by 25 basis points in October 2011 to 8.50%.According to Mr. Montek Singh Ahluwalia, Deputy Over the previous 9 months it had raised the rate by 200Chairman, Planning Commission, even though the 12th plan basis points, starting from 6.25% at beginning of the annual growth rate of 9% is still feasible, it is now If the declining trend of inflation continues, RBI is expectedmore difficult to achieve than six months ago. to start reducing the interest rate beginning Q1 of FY 2012- 13. Credit Suisse expects a 125 basis points decline in repoThe Gross Domestic Product (GDP) of India grew by 7.7% in rate over the FY 2012-13.Q1, 2011-12 period, as compared to 8.8% growth rate forQ1, 2010-11. The year on year growth rate fell further to In contrast to the declining trend in food inflation, the fuel6.9% in Q2. The sectors that did well in Q2 of 2011-12 over prices are still holding out. In the week ending Decembercorresponding period of the previous year are electricity, gas 24, fuel inflation marginally accelerated to 14.6% asand water supply (9.8%), trade, hotels, transport and compared to 14.4% a week earlier. On the demand side,communication (9.9%) and financial sector (including real the growth story of the United States, Europe and otherestate) (10.5%). Construction sector grew at 4.3%, major economies are expected to remain weak, dampeningfollowed by agriculture at 3.2% and manufacturing at their oil consumption. U.S. dollar is also likely to continue itsmeasly 2.7%. strong trend, helping to keep the price in check. However, there is rising tension between US/Europe and Iran in recentThe major drag for the economy was the decline in mining times. United States and Europe have been campaigning tosector GDP by 2.9% in Q2, along with the significant fall in choke off Irans oil export, and isolating its central bank.the growth of manufacturing sector. The IIP data for Q2, Although US and Europe have been talking with alternative2011-12 showed a decline by 2.7% for the mining industry suppliers, especially the other Gulf producers, doubts haveoutput, which was much lower than the 6.3% growth been raised regarding their capacity to completely replaceregistered in Q2, 2010-11. Manufacturing output grew only Irans supply on a sustained basis. This uncertainty has led toat 3.1%, which was again lesser than half the Q2, 2010-11 an increase in the oil prices, mainly due to supply concerns,growth rate of 7.4%. Electricity production did better in spite of absence of any spurt in demand.comparatively, growing at a much higher 10.5% in Q2 The adverse effect of rising fuel prices on Indian economy2011-12 vis-a-vis a low 2.1% in the corresponding quarter can be further exacerbated by the fall in the value of theof previous year. One significant related development on the Rupee. Indian Rupee was the worst performer in 2011policy front was the adoption of the New Manufacturing among Asian currencies, losing close to 20.6% against thePolicy on October 25, 2011. The New Policy envisages an U.S. dollar since August 2011. This was due to foreignincrease in the share of manufacturing in GDP, from 16% to investors pulling out of Asias third-largest economy on25% and creation of 100 million additional jobs in the worries over its large fiscal deficit, stubborn high inflationmanufacturing sector by 2022. The Policy also proposes to and slowing growth. According to Mr. Pranab Mukherjee,set up seven National Investment and Manufacturing Zones Finance Minister, the pressure on Rupee will continue untilwith single-window clearance and flexible labour laws. there is a suitable solution to the sovereign debt problem in Europe. According to research firm Macquarie, there is aEven though the overall year on year inflation remained high risk of Rupee depreciating further to 55-56 level against theat 9.11% for November 2011, the food inflation has US dollar in the near term, although a pull back is expectedsignificantly dropped over the last two months. For the week in the second half of this year. A weak rupee will exert anending December 24, food inflation came down to negative upward pressure on overall inflation by pushing up the cost3.4%, as prices of vegetables, onion, potato and wheat of imported items, and thereby partially offsetting arecorded a decline. This was the first time in six years that moderation in food inflation had shown a decline on an annual basis. Itremained on the negative zone for the subsequent threeweeks also. RBI expects inflation to moderate further toaround 7% level by March 2012.
  • 4. The fall in inflation and interest rates may also be limited 238 billion to US$ 310 billion. This resulted in an increase indue to the rising fiscal deficit, which is a result of growth the trade deficit from US$ 93 billion to US$ 117 billion. Aslowdown affecting tax revenues and derailment of PSUdivestment as a result of depressed market conditions. TheCentral Government has been forced to increase itsborrowing for the FY 2011-12 by 22%, raising questionsabout its ability to restrict deficit within the target figure of4.6% of GDP. Most analysts expect Indias 2011/12 federalfiscal gap to be an almost 1 percentage point higher thanthe original target.Another important factor can be the de-leveraging riskemanating from crisis in the Euro zone. In the event ofworsening of the European crisis, the European banks mayrefuse to rollover or extend credit to Indian corporatehouses. In such a scenario, Indian banks will be required totake the loans on their books. According to the Bank ofInternational Settlements (BIS), European banks claimsagainst India stood at US$159 billion at the end of June2011. This accounts for almost 55% of the totalinternational claims (US$289 billion) on India. According tofinancial market experts, the process has already started tosome extent and has the potential to adversely affect thedomestic liquidity situation in the coming months.Cumulative value of exports for the period April-Novemberin FY 2011 -12 was US$ 193 billion against US$ 145 billionfor the same period in previous year, registering a growth of33.2%. Imports over this period grew by 30.2% from US$Expected Employment Increase in Different Sectors - Outlook 2012 Employment Expected Increase in Employment Expected Increase in percentageSectors December January - December January - March January - December January - March 2011 2012 2012 2012 2012Banking, Financial Services and Insurance 968,055 71,605 15,657 7.4 % 1.6 %Education, Training and Consultancy 9,886,593 87,290 23,815 0.9 % 0.2 %Energy 924,528 30,208 7,710 3.3 % 0.8 %Healthcare 3,621,177 273,571 72,473 7.6 % 2.0 %Hospitality 6,309,121 230,213 60,308 3.6 % 1.0 %Information Technology & Information Technology Enabled Services 2,102,421 227,328 54,926 10.8 % 2.6 %Manufacturing - Machinery and Equipment 1,190,736 59,180 12,732 5.0 % 1.1 %Manufacturing - Non-Machinery Products 4,662,741 163,075 40,245 3.5 % 0.9 %Media and Entertainment 1,482,898 162,264 43,474 10.9 % 2.9 %Pharma 335,455 59,957 13,642 17.9 % 4.1 %Real Estate and Construction 988,815 132,906 26,669 13.4 % 2.7 %Trade including Consumer, Retail and Services 693,534 54,230 13,832 7.8 % 2.0 %Transport, Storage and Communication 2,730,403 49,480 10,042 1.8 % 0.4 %
  • 5. The Indian economy is expected to grow at around 7% inestimates of the financial year 2011-12, lower than the December projection of 7.8% to 8.0%. With some respite in foodemployment inflation, there is wide spread belief that the interest rate hikes have hit the ceiling and will begin a descent from April 2012 onwards. This may provide a respite to the badlygeneration in battered sectors of manufacturing, real estate, construction, automobile, etc.different sectors In terms of jobs created in Calendar Year 2011, Healthcare, Hospitality and IT took the top three places. In terms of y-o- y growth rate, the pride of place was taken by the Pharma sector. These four sectors are expected to repeat their chart topper performance in Calendar Year 2012 too. Two other sectors that will significantly add to the employment opportunities are Media & Entertainment and Manufacturing of Non-machinery products. Real Estate and Construction, which was expected to log a 16.8% growth rate in Calendar Year 2011, only managed to grow at 15.1%. The growth rate is expected to further decline in Calendar Year 2012 at 13.4%. However, this sector is likely to create more than a lakh new job opportunities in the current year. A summary of the employment generation scenario across 13 different sectors are presented below. It gives the estimated numbers of job created in Calendar Year 2011 in these sectors, as well as the likely additions in CY 2012. A comparison of Q4, CY 2011 against Q1, CY2012 numbers is also given in the following table. A detailed sectoral level analysis, highlighting some of the important developments which had a material impact on the job prospects in these sectors, is presented subsequently.Expected Employment Increase in Different Sectors - 2011 Employment Expected Estimated Expected Estimated Expected Estimated Expected EstimatedSectors Jan - Dec Jan - Dec Oct - Dec Oct - Dec Jan - Dec Jan - Dec Oct - Dec Oct - Dec December 2010 2011 2011 2011 2011 2011 2011 2011 2011Banking, Financial Services and Insurance 907,960 80,700 60,095 11,900 13,455 8.9% 6.6% 1.3% 1.4%Education, Training and Consultancy 9,794,024 107,500 92,569 20,700 25,793 1.1% 0.9% 0.2% 0.3%Energy 895,502 24,900 29,026 6,600 6,928 2.8% 3.2% 0.7% 0.8%Healthcare 3,377,657 248,500 243,520 58,700 68,077 7.4% 7.2% 1.7% 1.9%Hospitality 6,111,304 218,200 197,817 41,600 55,121 3.6% 3.2% 0.7% 0.9%Information Technology &Information Technology Enabled Services 1,918,865 183,000 183,556 41,600 45,821 9.5% 9.6% 2.1% 2.2%Manufacturing - Machinery and Equipment 1,134,788 68,400 55,948 14,000 12,336 6.0% 4.9% 1.2% 1.0%Manufacturing - Non-Machinery Products 4,507,967 223,400 154,774 38,300 36,941 5.0% 3.4% 0.8% 0.8%Media and Entertainment 1,356,296 126,100 126,602 32,800 38,998 9.3% 9.3% 2.3% 2.7%Pharma 284,351 49,400 51,104 12,800 13,855 17.4% 18.0% 4.1% 4.3%Real Estate and Construction 859,342 144,700 129,473 26,200 23,815 16.8% 15.1% 2.8% 2.5%Trade including Consumer, Retail and Services 652,786 38,600 40,748 9,900 12,334 5.9% 6.2% 1.5% 1.8%Transport, Storage and Communication 2,682,553 93,300 47,850 11,300 8,403 3.5% 1.8% 0.4% 0.3%
  • 6. Banking, Financial composition of new hiresServices and Insurance 3%Between October and December 2011, the 30% 29%Banking, Financial Services and Insurancesector has added 13,455 jobs and is < 1 Yearexpected to add another 15,657 jobs over by experience 1 - 4 Years 5 - 10 yearsJanuary to March 2012. This sector is > 10 Yearsexpected to add 71,605 jobs in theCalendar Year 2012. 39%? moderation in inflation, the RBI has indicated a halt in itsWith thelong series of raises in repo rate. While it had increased repo rate by200 basis points over the first nine months of 2011, it raised the rateonly once by 25 basis points in the final quarter of Calendar Year2011. The rapid increase in the interest rate had a detrimental effecton the overall growth prospect in 2011, and subdued the 2% 12%employment situation. Sectors like real estate and auto industry alsoexperienced a slowdown in demand as a result of this.?growth as on December 16, 2011 dropped to its lowest levelCreditsince April 2010 (20 months) to below 18% (at 17.1%) because ofslowing economy as well as a high base effect (23.9% yoy growth in 41% Admin / Accountants etcDecember ‘10). Deposit accretion continues to be healthy at a yoy Core Activities includinggrowth rate of 44%. Most of the banks kept their deposit as well as Marketing and BDlending rates unchanged. by function Customer ServiceConcerns on asset quality continued to plague the banking system.?With completion of transition to system-based NPA recognition, most Senior ManagementPSU banks witnessed asset-quality stress. 11 out of 21 PSU banksreported more than a 20% increase in their net NPA levels in Q2 of 44%FY2012. The asset quality of the private banks, in contrast, remainedcomfortable apart from some concerns on the Micro FinanceInstitutions. With sectors such as infra, real estate and exportscontinuing to face macro headwinds, asset-quality concerns areexpected to linger.? recently issued draft guidelines for implementation of Basel-IIIRBI hadbanking norms in India. The new norms envisage that the equitycapital of a bank should not be less than 5.5% of its risk-weightedassets (RWAs). Tier 1 capital (equity and reserves) and total capitalmust be at least 7% and 9% of RWAs respectively. It had also 17%suggested setting up of a capital conservation buffer in the form of 22%common equity of 2.5% of RWAs. This will increase the capitalisationneeds of the Indian banks significantly.In an effort to further the goal of delivering financial services at? Campusaffordable costs to sections of disadvantaged and low income HR Agencysegments of the society, Government is exploring the possibilities of 4%tapping into the network of 1.55 lakh post offices. If implemented, by hiring sources Referralsthis will increase the reach of the banking network by three fold and Social Mediawill help to reach out to a huge population, which is still outside the 32%existing banking system. OthersIn a move that could benefit over 5 million unskilled and semi-skilled?overseas Indian workers, Government has cleared a proposal to set upa Pension and Life Insurance Fund (PLIF) in the Emigration Check 24%Required (ECR) countries.Economic slowdown, inflation, weak investment sentiment and?changed regulations for unit-linked insurance plans (ULIPs) sinceSeptember 2010 have led to a contraction in the premium collectedby the life insurance industry for the first time in last 10 years. Thetotal premium collected stood at Rs. 155,770 crore for the periodbetween April and November 2011 against Rs. 162,994 crorecollected over the same period in 2010-11. While the renewal Increase in Salarypremiums grew in April-November 2011, there was a significant Lateral Job Shiftdecline in the new premium collections.? set to increase the provisioning norms for the commercialIRDA isthird-party motor pool to 163-213 per cent from present 153 percent. This may lead to Rs 10,000 crore loss in the current financialyear for the 24 general insurers.As a consequence, employment in BFSI in 2011 grew at a lower than?expected rate. With the expected decrease in inflationary pressure andthe interest rates, business climate is likely to improve in 2012 ascompared to last year. Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 11.7% 12.5% 954,600 968,055 983,712 1,039,659 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 7. Education, Training and composition of new hiresConsulting 4%Between October and December 2011, the 33% 25%Education, Training and Consultancy sectorhas added 25,793 jobs and is expected to < 1 Yearadd another 23,815 jobs over January to by experience 1 - 4 Years 5 - 10 yearsMarch 2012. This sector is expected to add > 10 Years87,290 jobs in the Calendar Year 2012.The Government of India aims to achieve 21% gross enrolment ratio? (GER) by the end of the Twelfth five year plan (2012-2017). 38%? implementation of the Right to Education Act, funds toWith theelementary education have seen a significant increase. Between 2007-08 and 2009-10, the elementary education budget increased from Rs.68,710 crore to Rs. 97,255 crore. However, as per a provisional reportof PAISA District Studies (Rural) 2011, a major share (78 %) of theeducation budget in India was spent on meeting teachers’ salary and 2% 9%management costs. Only around 14% and 1% was invested on 21%establishing school infrastructure and improving the quality ofeducation respectively.? this skewed expenditure pattern, the teacher to student ratioDespiteis very low across all levels. A recent task force of MHRD estimated Admin / Accountants etcthe lecturer-to-student ratio in the country at 1:20.9, against 1:13.5 Core Activities includingrecommended by the University Grants Commission (1:12 for Marketing and BDpostgraduate students and 1:15 for undergraduates). Nearly 100,000 by function Customer Serviceteachers will be required annually over the next decade to meetIndia’s burgeoning college education demand. Senior ManagementAccording to central government data, the 42 central universities,?considered to be key to the country’s university system, have nearlyone-third of their teaching posts vacant.? the top institutions like IISc, TIFR, BITS have already started 4Many of 67%years undergraduate programmes in science subjects. Many largeuniversities like the Delhi University are also exploring similarpossibilities. If implemented, this shall further increase demand forteaching faculty.According to a research note by Anand Rathi, seats available for?tertiary education in India are sufficient for just 12% of thepopulation that needs such education. 10%? to bridge the gap between industry requirements andIn ordermanpower availability, the Indian government has set a target to skill500 million people by 2022, in collaboration with 34 approvedtraining partners. It is looking towards creating a training capacity of 36%11.2 million per year. Campus?education is increasingly becoming a serious business in India.Sports HR AgencyThe US$ 38 billion sports education and management industry is by hiring sources Referralsbeing viewed as a great investment opportunity by entrepreneurs. 31%? report estimates private education sector alone to grow toA recent Social MediaUS$ 70 billion by 2013 and US$ 115 billion by 2018. Others? demand side looking buoyant, this sector will be a majorWith thecreator of job opportunities in the coming years. 2% 20% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 11.2% 11.5% 9,860,800 9,886,593 9,910,408 9,973,883 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 8. composition of new hiresEnergyBetween October and December 2011, the 3%Energy sector has added 6,928 jobs and is 25%expected to add another 7,710 jobs overJanuary to March 2012. This sector is < 1 Yearexpected to add 30,208 jobs in the 43% 1 - 4 Years by experienceCalendar Year 2012. 5 - 10 years > 10 YearsCoal production declined by 4.0% during April-November 2011-12? compared to 0.4% increase during the same period of 2010-11.?coal sector is hampered by primitive mining techniques and rifeIndias 29%with theft and corruption. The monopoly coal producer, state-controlled Coal India, has consistently missed production targets.Shoddy transport infrastructure, inadequate for moving coal from far-flung mines, compounds the problems.Coal India needs to mine new deposits to increase output. But most of?it lies under protected forests or conflict-ridden tribal lands.Government efforts to create an effective land-acquisition program 3%for such projects, including compensation for displaced people, 14%havent made much progress. 16%?Oil production registered a growth of 2.9% during April-CrudeNovember 2011-12 compared to its growth at 11.5% during thesame period of 2010-11. The Nov 2011 production figure was even Admin / Accountants etcmore dismal at negative 5.6% compared to 17.0% growth inNovember 2010. Core Activities including Marketing and BD? Gas production registered a negative growth of 8.5% duringNatural by functionApril- November 2011-12, compared to 19.9% growth during the Customer Servicesame period of 2010-11. Senior Management? to these three, electricity generation turned a stellarRelativeperformance. It grew by 14.1% in November 2011 compared to just3.5% growth in November 2010. During the April-November 2011-12 period, electricity generation grew by 9.3% against 4.6% growthduring the same period of previous financial year. 67%? the worlds fifth-largest electricity producer after the U.S.,India isChina, Japan and Russia. However, at 778.71 kilowatt hours a year,its per capita consumption is among the worlds lowest. Almost 300million people do not have access to electricity. The country needs ahuge jump in supply to sustain its rapid economic growth, fightpoverty and light the homes of those powerless millions. This providesthe sector with huge expansion opportunities. 12%More than half of Indias installed electricity-generating capacity of? 27%182 gigawatts is coal-based, and a large chunk of future powerprojects also will run on coal. By comparison, Chinas installedcapacity at the end of 2010 was 962 gigawatts, about 73% of it from Campuscoal. HR AgencyThe government and private industries are estimated to have invested?$100 billion since 2007 to add capacity. As more power plants come by hiring sources Referralsonline, coal shortages are expected to worsen. 29% Social MediaIn the face of huge unmet demand, the actual performance of this?sector is thus going to be determined by the supply side factors like 10% Otherscoal supply, land acquisition, discovery of new resources, investmentclimate, etc. 22% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 11.8% 12.2% 917,600 924,528 932,238 954,736 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 9. composition of new hiresHealthcareBetween October and December 2011, the 2%Healthcare sector has added 68,077 jobs 17%and is expected to add another 72,473jobs over January to March 2012. This 39% < 1 Yearsector is expected to add 273,571 jobs in 1 - 4 Years by experiencethe Calendar Year 2012. 5 - 10 years > 10 YearsHealthcare industry is the worlds largest industry with total revenues?of approx US$ 2.8 trillion. In India, Healthcare has emerged as one of 42%the largest service sectors with estimated revenue of around $ 30billion (5% of GDP). This is significantly lower than in the US, whereHealthcare spending is 15% of GDP. This indicates its importance as asector with significant employment generation capacity.? Indian population will reach 1.4 billion with about 45%By 2025,constituting urban adults (15 years+). To cater to this demographicchange, the Healthcare sector will have to be about $100 billion insize contributing nearly 8 to 10% of the projected GDP. 2%? the key drivers for Indian Healthcare sector is Medical Tourism.One of 16%World class treatment and benefits at a fraction of the cost (almost1/10th), with no waiting time for surgeries have been instrumental ina large number of foreign arrivals. This market is expected to grow to$2 billion by 2012 end. Admin / Accountants etc? key growth driver is Diagnostics & Pathology Services.Another 44%Outsourcing of Pathology and Laboratory tests by foreign hospital Core Activities including Marketing and BDchains (due to the highly favourable cost differential in India), is by functionexpected to grow with time. There are about 100,000 diagnostic Customer Servicelaboratories in India. This is about half the number of those in the US. Senior ManagementIndia’s diagnostics sector is expected to grow at about 20% to reachabout $2 billion in size by the end of 2013.With availability of a huge patient pool, clinical trial of drugs is? 39%possible in India at 60% of the cost abroad. This is expected to help inthe expansion of this sub-sector.Increased government expenditure on Healthcare, increasing coverage?of health insurance, low current coverage of Healthcare services, etc.will also significantly drive domestic demand. McKinsey-CII estimatesthe number of potential insurable lives at 315 million, with a potentialof US$ 7,700 million in health insurance premium by 2015.? the important bottlenecks for the sector is shortage in trainedOne ofmanpower. Wherein there is a surplus of about 500,000 qualified 14%practitioners in Indian system of medicine, shortage in allopathic 25%stream runs to around 700,000 doctors. To address this situation, theGovernment is working towards capacity expansion in medicalinstitutions. Government is also contemplating on allowing diaspora Campuspractitioners having Post Graduate degrees from USA, UK, Canada,Australia and New Zealand to practice in India. HR AgencyTelemedicine is another important area receiving a lot of attention. If? by hiring sources Referralsused effectively, it can multiply the utilization of scarce human 6% 32% Social Mediamedical personnel. It will open doors for the rural population toaccess quality healthcare and at the same time, significantly improve Othersthe productivity of medical personnel. 23% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 16.1% 16.0% 3,553,100 3,621,177 3,693,650 3,894,748 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 10. Hospitality composition of new hiresBetween October and December 2011, the 3%Hospitality sector has added 55,121 jobs 26%and is expected to add another 60,308 33%jobs over January to March 2012. This < 1 Yearsector is expected to add 230,213 jobs in 1 - 4 Years by experiencethe Calendar Year 2012. 5 - 10 years > 10 YearsThe Travel & Tourism Competitiveness Report 2011 estimates travel &?tourism industry of India to be worth US$ 42 billion in 2010 (3.1% ofGDP). The report also forecasts it to grow at an average rate of 7.8%over the period 2011-2020. 39%The report ranks India 68th globally and 12th in the Asia-pacific?region in terms of competitiveness. India is well placed in terms of itsnatural resources (8th) and cultural resources (24th). India alsoprovides quite a good air transport (ranked 39th), and reasonableground transport infrastructure (ranked 43rd). However, some aspectsof tourism infrastructure remain somewhat underdeveloped. There 1%are fewer hotel rooms per capita by international standard and also 13%low ATM penetration. Other areas of concern are the policyenvironment (ranked 128th), health and hygiene standards (112th)and the human resources base (96th).? Tourist Arrivals (FTAs) in India during 2011 was at 6.29Foreignmillion, registering a growth of 8.9% over 5.78 million in 2010. This 41% Admin / Accountants etcis, however, lower than the 11.8% growth registered during the year Core Activities including2010 over 2009. The growth rate of 8.9% in 2011 for India was Marketing and BD by functionbetter than UNWTO’s projected growth rate of 4% to 5% for the Customer Serviceworld in 2011 and 7% to 9% for the Asia-Pacific region. Senior Management? Exchange Earnings (FEE) from international inbound tourismForeignduring 2011 was at US$ 16564 million compared to US$ 14193 45%million in 2010, registering a 16.7% annual growth. The FEE hadgrown by 24.6% in the previous year.? sharp depreciation of the rupee in recent times, India hasWith theturned into an affordable destination for foreign visitors. On thenegative side, the world economic downturn may have a negativeeffect on foreign tourist flow. In order to attract more foreign visitors,India has extended the visa on arrival facility to 11 countries. At thesame time, with international travel becoming costlier for Indiantravellers, domestic demand for tourism is expected to increase in thecoming periods. 12%In contrast, lowering economic growth rate, high land prices, low?floor space index (FSI), plethora of taxes, low incentive fromgovernment and upcoming state elections can dampen the potential 30%of sector as an engine of growth. CampusRising business and leisure travel to smaller cities have increased?demand for quality hotel rooms in these cities. Hospitality chains are HR Agencyexpected to increase their presence in smaller cities to leverage this by hiring sources Referralsopportunity. 28%Many hospitality chains that were earlier focused only on the luxury? Social Mediasegment are now diversifying into new product segments, such as 4% Othersbudget hotels and serviced apartments, in order to reduce risks.Moreover, hotel chains are diversifying into niche segments such asmedi-cities, wildlife lodges and spas to establish additional revenue-generation streams. 27% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 14.9% 15.3% 6,254,000 6,309,121 6,369,429 6,539,334 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 11. composition of new hiresIT & ITeSInformation Technology and 7%Information Technology Enabled Services 25%Between October and December 2011, the 30%Information Technology & Information < 1 YearTechnology Enabled Services sector has by experience 1 - 4 Yearsadded 45,821 jobs and is expected to add 5 - 10 years > 10 Yearsanother 54,926 jobs over January to March2012. This sector is expected to add227,328 jobs in the Calendar Year 2012. 39%According to the latest report of the Internet and Mobile Association?of India (IAMAI), the number of internet users in India crossed the 100million mark in September 2011 and was expected to grow to 121million by December 2011. The broadband subscriber base stood at12.69 million in August 2011, according to data released by the 2% 6%Telecom Regulatory Authority of India (TRAI).India Information Technology Report 2011(Q3) by Business Monitor?International (BMI) predicts the Indian domestic market for IT productsand services to increase from US$ 19.7 billion in 2010 to US$ 41.2billion by 2015. As per the report, the Indian market for PCs 30% Admin / Accountants etc(including notebooks and accessories) and IT services were worth Core Activities includingaround US$ 8 billion and US$ 7.5 billion respectively in 2011. The Marketing and BDreport has estimated a compounded annual growth rate (CAGR) of 18 by functionper cent for Indian software market over the span of 2011-2015. Customer ServiceAccording to NASSCOM, the $88 billion Indian IT outsourcing industry? Senior Managementis projected to touch $225 billion mark by 2020. For the FY 2011-12,NASSCOM expects the IT services revenue growth rate to be around 62%15%.While the rupee depreciated by 21% in the August-December 2011?period, the IT sector’s net foreign exchange earnings touched US$14.48 billion. Total export from the sector was US$25.19 billionagainst forex spending of US$10.71 billion.The Indian e-commerce market grew by 47% in 2011 to become a?US$ 10 billion industry. It is expected to continue to expandexponentially with rising income, internet penetration and customersbecoming more and more comfortable with online transactions. Retail 14%brands are also expected to bring a great transformation in the online 18%space. Investors have poured around US$ 200 million into Indian e-commerce start-ups in the last couple of years.As a result of such growth, e-retailers, who want to focus on their? 8%core functionalities, are expected to outsource bulky back-end Campusoperations (such as customer care, order processing, invoice HR Agencyprocessing, finance and accounts). This may emerge as a substantialsource of revenue for BPOs. by hiring sources ReferralsThe demand for cloud computing services is expected to increase? Social Mediarapidly in India. There are already more than 50 cloud computing 29% Othersservice providers in the Indian market. Indian internet servicesproviders (ISPs) and data centre service providers are investing onapplications and bandwidth to support new cloud service offerings. 32%The coming time is also expected to see rapid proliferation of Apps,customer interactive innovations and machine to machine (M2M)technologies.According to the latest outlook by technology research firm Gartner,?worldwide IT spending will grow by 3.7% in 2012 to US$ 3.8 trillion.In 2011, the spending was at US$ 3.7 trillion, clocking a 6.9% growthover 2010 levels. Despite this reduced growth rate, the flow of workto low cost destinations like India may not be affected, even ifcompanies in US and Europe take recourse to increased offshoring to Increase in Salarycut costs and remain competitive. Lateral Job ShiftIn association with Rockefeller Foundation, NASSCOM Foundation is?working towards developing a new arm of the BPO industry called‘impact sourcing’, which essentially involves employing socio-economically disadvantaged people as principal workers. NASSCOMestimates that by 2020 the Indian IT-BPO industry can tap additionalrevenue worth US$75 billion through innovations such as this. Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 15.9% 18.5% 2,056,600 2,102,421 2,157,347 2,329,749 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 12. Manufacturing composition of new hiresMachineries and Equipment 4%Between October and December 2011, the 20%Manufacturing - Machinery and Equipmentsector has added 12,336 jobs and is 34% < 1 Yearexpected to add another 12,732 jobs over by experience 1 - 4 YearsJanuary to March 2012. This sector is 5 - 10 yearsexpected to add 59,180 jobs in the > 10 YearsCalendar Year 2012. 42%The Index of Industrial production declined by 5.1% on y-o-y basis in?the month of October 2011. The manufacturing sector, which has aweightage of approx 75% in the index, performed worse at anegative growth rate of 6%. The cumulative growth for the April-October 2011 period less than halved to 3.7%. The growth rate ayear before, for the seven month period, was 9.4%.? goods sector showed a sharp decline on 25.5% in OctoberCapital 3% 9%2011 relative to the October 2010 production figures. The cumulativegrowth for the April-October 2011 period shows a decline of 0.3% 19%over the corresponding period on 2010.? machinery and apparatus production declined by aElectricalstupendous 58.8% in October 2011, when compared to October Admin / Accountants etc2010 production level. Both Machinery and Motor vehicles subsectors’ Core Activities including(October 2011) figures showed a decline (12.1% and 7.1% Marketing and BDrespectively) compared to October 2010. Cumulative (April-October by function Customer Service2011) y-o-y growth rates for these three subsectors were negative14.2%, negative 3.3% and 10.6% respectively. These subsectors had Senior Managementlogged growth rates of 3.3%, 34.1% and 36.3% respectively overthe corresponding 7 month period of last year.? in India grew by 30% in FY 2010-11. However, the growthCar salesrate was down to 2.3% in the first eight months of the FY 2011-12. 69%Major reasons cited for the downfall are high interest rates and risingfuel prices. The manufacturers are also grappling with increased inputcosts.? global headwinds, many economists say Indias troubles areDespitelargely homegrown, and a result of the ripple effect of the interestrate hikes. With the fiscal deficit figures way above budgetprojections, scope for any further stimulus is also very limited. Political 10%paralysis has also made it difficult to kickstart growth and investmentin the face of a plunging rupee and two years of near double-digitinflation. The long pending list includes land acquisition bill, tax 30%reform initiatives, new mining regulations and measures to allowgreater foreign investment in the defence and aviation sectors. CampusConsequently, employment opportunities grew at around 4.9% only,? 32% HR Agencylower than the expected 6% growth rate at the beginning of 2011.The salary hike for lateral shifting of jobs also declined from 13.0% in? by hiring sources ReferralsJuly-Sept ‘11 period to 10.4% in Oct-Dec ’11. Social Media Others 5% 23% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 10.4% 10.9% 1,178,400 1,190,736 1,203,468 1,249,916 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 13. Manufacturing composition of new hiresNon-machinery Manufacturing 1%Between October and December 2011, the 19% 27%Manufacturing - Non-Machinery Productssector has added 36,941 jobs and is < 1 Yearexpected to add another 40,245 jobs over by experience 1 - 4 YearsJanuary to March 2012. This sector is 5 - 10 yearsexpected to add 163,075 jobs in the > 10 YearsCalendar Year 2012. 54%The Indian Government has cleared a new manufacturing policy in?October 2011, which aims to create 100 million jobs and augmentthe share of manufacturing in Indias gross domestic product from theexisting 16% to 25% by 2022. The policy stresses on setting up moremanufacturing zones, industrial townships, and industrial hubs acrossthe country.The cumulative April to October 2011 growth in consumer goods,? 1% 12%consumer durables and consumer non-durables sectors were lower 18%compared to the previous year. The growth rates for 2011 were at3.7%, 4.5% and 2.9% respectively, a significant fall from 9.1%,15.7% and 3.9% last year.The sectors which did well are food and beverages, basic metals and? Admin / Accountants etcfabricated metals (excluding machinery and equipment). All these Core Activities includingthree logged a double digit growth over the first seven months of the Marketing and BDFY 2011-12. by function Customer ServiceThe sectors which did badly are tobacco, textiles, wood products,?chemical and rubber. All of them showed a decline in production over Senior Managementthe aforementioned period. The declines in textiles and chemical areparticularly worrying, considering their large share in the productionpie.?FMCG Companies, in the era of high inflation and increasingIndiancommodity prices, adopted the price hike strategy and effective cost 70%management. `Premiumization` was a key strategy employed duringthe year to tap the growing middle-class segment. Indian FMCGIndustry is currently estimated to be worth Rs 2,600 billion (4.8% ofGDP). According to FICCI, the market is expected to grow at a rate of10% over the next 10 years to reach a size of Rs 4,130 billion by2015. 9%According to the HSBC purchasing managers index (PMI), the?manufacturing sector index increased to 54.2 in December ’11 from51 in the November ‘11. Industry reports also mention improved 29%domestic and foreign demand, indicating improved growthmomentum. As per the HSBC PMI report, December ’11 saw sharp Campusrise in new order volumes, while the rate of growth of manufacturing HR Agencyoutput accelerated to highest levels in four months. Manufacturing 29%sector employment also rose in the month under review after four by hiring sources Referralsstraight months of showing job losses. But, the rate of input cost Social Mediainflation remained stubbornly above the long-run average. 3% OthersThe sluggish growth of the sector is reflected in the lower than?expected new job creation. New job creation numbers grew at 3.8%over the CY 2011 against January 2011 expectation of 5.0% growthin the year.? in salary over lateral shifts also declined in the October-The hike 31%December quarter to 13.5% from 14.2% clocked in the previousquarter. Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 13.5% 14.5% 4,625,800 4,662,741 4,702,986 4,825,816 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 14. Media and Entertainment composition of new hiresBetween October and December 2011, the 7%Media and Entertainment sector has added 18%38,998 jobs and is expected to addanother 43,474 jobs over January to March 26% < 1 Year2012. This sector is expected to add 1 - 4 Years by experience162,264 jobs in the Calendar Year 2012. 5 - 10 years > 10 Years?increasing per capita income, growing middle class andIndiasworking population are generating huge domestic demand for leisureand entertainment. India has more than 600 television channels, 100 49%million pay-television households, 70,000 newspapers and producesmore than 1,000 films annually.According to the Ernst & Young report ‘Spotlight on Indias?Entertainment Economy, the Media and Entertainment (M&E)industry in India is expected to grow from US$ 16.3 billion in 2010 tomore than US$ 25 billion by 2015.According to KPMG, India is the worlds third largest Television (TV)? 2%market with almost 138 million TV households, only next to China 12%and USA. Cable and satellite penetration has reached around 80%,with high growth shown by the direct-to-home (DTH) service. By2015, television is expected to account for almost half of the Indian 33%M&E industry revenues, and more than twice the size of print media. Admin / Accountants etcNew technologies like high definition television, set top boxes (STBs)?with inbuilt recorders and delivery platforms like mobiles are evolving Core Activities includingrapidly, creating ample opportunities for innovation and growth. Marketing and BD by function? up the radio sector to private investment and transition fromOpening Customer Servicea fixed fee to a revenue sharing license regime is helping it to grow at Senior Managementa fast pace.? digitisation, media consumption and improvingGrowingdemographics are the most important drivers responsible for thegrowth of this industry. The digital subscribers (digital cables, DTH, 54%IPTVs, etc.) are expected to surpass the analog subscribers by 2013.Telecom Regulatory Authority of India (TRAI) has set March 31, 2015as the revised deadline for digitisation of the entire industry in aphased manner. The four metros are required to shift to digitaladdressability by March 31, 2012.The Ministry of Information and Broadcasting (I&B) also plans to push?for easing the process of import of equipments to speed up the 8%digitisation process. Further liberalisation of FDI regime for cablecompanies is also being considered.The favourable growth outlook is expected to attract more investment? 24%in this sector and a lot more organised, corporate involvement in theentertainment industry. This will further improve the infrastructure. 27% CampusFor example, a film city is coming near Bengaluru, in a 300 acre plot,at an investment of around Rs 1000 crore. HR AgencyAccording to Telecom Regulatory Authority of India (TRAI), the? by hiring sources Referralscountrys broadband subscriber base stood at 12.69 million in August 3% Social Media2011. India has also emerged as the second largest mobile internetmarket. In terms of YouTube uploads, India is second only to USA. OthersThis opens interesting opportunities for growth of new media outlets.The newspaper industry also continues to gain in readership in India?on the back of rising literacy rates, growth of regional markets andspecialty newspapers. 39% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 15.3% 16.7% 1,443,900 1,482,898 1,526,372 1,645,162 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 15. composition of new hiresPharmaBetween October and December 2011, the 1%Pharma sector has added 13,855 jobs and 21%is expected to add another 13,642 jobsover January to March 2012. This sector is < 1 Yearexpected to add 59,957 jobs in the 1 - 4 Years by experienceCalendar Year 2012. 5 - 10 years 46% > 10 YearsThe Pharma industry in India meets around 70% of the country’s?demand for bulk drugs, drug intermediaries, pharmaceuticalformulations, chemicals, tablets, capsules, orals and injectibles. There 32%are approximately 250 large units and about 8000 small units, whichforms the core of the Pharma industry in India. The large 250companies control about 70% of the market share, with severe pricecompetition and government price control. The domesticpharmaceutical industry has evolved from being purely reverseengineering focused to a research driven, export oriented and globallycompetitive entity. 2%? of production volumes, the Indian pharmaceutical industry isIn terms 8%ranked 4th in the world. In terms of domestic consumption value,India is ranked 13th. The market is expected to grow to US$ 34 billion 25%in FY 2011-12 from US$ 13 billion in FY 2006-07. Consulting firm IMSestimates that global spending on medicines will reach 1.1 trilliondollar by 2015. Admin / Accountants etcAccording to PwC, India is expected to join the league of top 10? Core Activities includingglobal pharmaceuticals markets by 2020, with total sales reaching by function Marketing and BDUS$ 50 billion. McKinsey suggests that if aggressive growth strategies Customer Serviceare implemented, the market has the potential to reach US$ 70 billionby 2020, from US$ 13.1 billion in FY 2010-11. Senior ManagementAccording to CARE Ratings, drugs worth $235 billion are expected to?go off patent in the next five years, leaving the market open for off-patent or generic drugs. This is expected to be the primary growth 66%driver for the Indian Pharmaceutical Industry in the next 3-5 years.Other key growth drivers are, increased per capita expenditure onpharmaceuticals, improved medical infrastructure, greater healthinsurance penetration and shift in disease profiles.? trend in outsourcing by global pharmaceutical companiesGrowingwill further fuel the exports by Indian firms. The contract researchmanufacturing companies will see a revival in demand as exportcontracts from global pharmaceutical companies are expected to go 9%up.? saw over US$ 200 million of private equity money flowingCY 2011 29%into the Indian pharma space. Dealmakers expect this healthy inflowto continue in 2012. Campus?pharma companies grew by 14% in 2011, as compared to 4%Indiangrowth witnessed in previous year. On the back of aggressive HR Agencymarketing initiatives, pharma companies witnessed doubling of rural by hiring sources Referralsmarket sales. Indias rural drug market grew by 18.8% in the 12 36%months period ended April 2011, achieving a significantly higher Social Media 2%growth rate than 10.9% in the previous year. OthersHowever, the net profit of Indian companies has come down due to?high interest rate costs and exchange rate fluctuations. According toCARE, companies having foreign currency liabilities will continue to beimpacted by a weak rupee. However, the impact may be partially 24%offset by higher export realizations. Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 16.8% 15.6% 321,600 335,455 349,097 395,412 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 16. Real Estate and composition of new hiresConstruction 1% 25%Between October and December 2011, theReal Estate and Construction sector has 36%added 23,815 jobs and is expected to add < 1 Yearanother 26,669 jobs over January to March 1 - 4 Years by experience 5 - 10 years2012. This sector is expected to add > 10 Years132,906 jobs in the Calendar Year 2012. 38%? has been the primary concern for the Indian economy in theInflationlast few months. This induced RBI to raise the repo rate from 6% inJanuary 2011 to 8.5% by year end. Along with economic slowdown,the rise in the interest charges hit the sector really hard in the pastyear. According to data compiled by Hindustan Times, while top 14listed real estate companies had rather healthy revenue of Rs 44,480crore in CY 2010, the revenue was down by 58% in CY 2011 to Rs18,524 crore. 1% 12%According to Knight Frank India, although residential property price? 17%had increased by 10% to 30% in 2010, it had declined by upto 10%across major cities like Mumbai, NCR, Bangalore and Chennai in2011.New project launches also dropped by 52% in 2011. Whereas? Admin / Accountants etc3,61,098 residential units were launched across the top 7 cities of Core Activities includingMumbai, NCR, Pune, Kolkata, Bangalore, Chennai and Hyderabad in Marketing and BD2010, only 1,72,856 units were launched in 2011. Housing inventory by function Customer Serviceof 3,06,859 units are also lying unsold.? for commercial office space, driven mainly by the serviceDemand Senior Managementsector industries like BFSI and IT/ITES, remained muted in 2011. Thegrowth potential of these two sectors were severely damaged by theeconomic downturn. Of the total office stock of 367 million squarefeet (msf) in the seven cities mentioned above, 24% remain vacant.Rentals in these cities also remained under pressure. 71%Last year, the government came out with the draft real estate?regulation bill, which proposes to directly regulate the real estatesector and adjudicate any dispute between the buyer, promoter andgovernment authority. FDI policies for single-brand retail andwholesale trade now allow 100% foreign participation, and have thepotential to enhance demand for prime real estate. 22% 7%? ahead to 2012, the residential real estate demand will beLookingdependent on how the Indian economy performs and its impact onemployment, income, inflation and interest rate. The demand forcommercial real estate will be determined by the performance of BFSIand IT/ITES sectors. Campus 6%One positive development though is the interest being shown by the? HR AgencyNRIs to invest in Real Estate, following the sharp depreciation of by hiring sources ReferralsIndian Rupee against US$.Interestingly, at a time when few prime quality office projects are? 33% Social Mediabeing built, assets that are already generating rental yields are finding Otherstakers among Private Equity (PE) funds. According to VCCEdge, totalPE investment in 2011 in real estate had been $1.31 billion across 34deals. Out of this, 10 transactions worth $862.8 million involvedpurely commercial properties. 33%Government has finalized the contours of a $10-billion infrastructure?debt fund (IDF) with 50% participation from a foreign bank and amultilateral agency, while the rest of the corpus will be contributed bystate-owned financial institutions.However, in the opinion of Bankers and companies in the?infrastructure space, it is the absence of projects and supply of inputs,rather than lack of funds, that is holding up development. Severalcoal-based power projects are held up due to the failure of the Increase in Salarygovernment to ensure adequate supply of fuel. There are others that Lateral Job Shifthave suffered delays on account of land acquisition or environmentalclearances. These factors have also prompted the government, whichis battling a series of corruption scandals, to go slow on award of newcontracts. Contracts have been scarce in other infrastructure sectorslike ports too. Road was the only shining light in terms of contractsawarded.Consequent to this sloth pace, the construction sector’s GDP grew?only at 1.2% and 4.3% in Q1 and Q2 of FY 2011-12, sharply downfrom y-o-y growth rates of 7.7% and 6.7% in FY 2010-11. Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 13.0% 13.1% 965,000 988,815 1,015,484 1,121,721 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 17. composition of new hiresTrade includingConsumer Retail Services 7% 21%Between October and December 2011, theTrade including Consumer, Retail and 28%Services sector has added 12,334 jobs and < 1 Year 1 - 4 Yearsis expected to add another 13,832 jobs by experience 5 - 10 yearsover January to March 2012. This sector is > 10 Yearsexpected to add 54,230 jobs in theCalendar Year 2012. 44%? retail business is currently valued at around US$ 550 billion.IIndianBMI India Retail Report for the first quarter of 2012 forecasts the retailbusiness to grow to US$ 825 billion by 2015. A report by BostonConsulting Group (BCG) estimates the countrys organised retail atUS$ 28 billion, with around 7 per cent penetration. It is projected tobecome a US$ 260 billion business over the next decade with around 1%21% penetration. 12% 22%? report by Business Monitor International (BMI) suggests thatAnotherexpanding middle and upper class consumer base is generating vastopportunities in Indias tier-II & tier-III cities. The greater availability ofpersonal credit, improved mobility and better tourism are all small but Admin / Accountants etcsignificant contributors to the growth of Indian retail industry. Core Activities including? FDI in single brand retail has been increased to 100%. TheLimit of Marketing and BDdecision eases the entry of single-brand retailers such as Starbucks by functionCorp. and Ikea, allowing them to operate without a local partner. FDI Customer Serviceup to 100% for cash and carry wholesale trading and export trading Senior Managementis also allowed under the automatic route. Majority (51%) foreignownership in multi-brand retail though may have to wait till thecompletion of coming state elections, considering the wide politicaldivision across parties. 65%? advantage of the liberalised FDI policy for single-brand retail,Takingmany top end brands like Vertu, Christian Loubotin, Armani Junior,Van Laack, Diesel Black Gold, etc. will commence their operationsshortly. According to the Department of Industrial Policy andPromotion (DIPP), cumulative FDI inflows into single-brand retailtrading during April 2000 to September 2011 stood at US$ 44.45million,.?CII estimates luxury brands market in India to have grown at a healthy 12%20%, during 2010, reaching a size of US$ 5.8 billion. It forecasts themarket to be worth US$ 14.7 billion by 2015. 31%?retailers and consumer durables companies are joining the webIndianbandwagon, with fast expansion of Indias online shopping industry. CampusIndian online retail trade is expected to become a US$ 1.35 billion HR Agencyindustry by 2015. 23% by hiring sources Referrals Social Media Others 6% 29% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 14.4% 15.9% 681,200 693,534 707,366 747,764 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 18. Transport, Storage and composition of new hiresCommunication 23%Between October and December 2011, theTransport, Storage and Communication 34%sector has added 8,403 jobs and is < 1 Yearexpected to add another 10,042 jobs over by experience 1 - 4 Years 5 - 10 yearsJanuary to March 2012. This sector is > 10 Yearsexpected to add 49,480 jobs in theCalendar Year 2012. 43%?carriers flew 55 million domestic passengers between JanuaryIndianand November 2011, against 46.8 million in the Jan-Nov period of lastyear. However, it managed to utilise just 20 percent of overseasentitlement, against 39 percent into India by foreign airlines.Despite a17% growth in passenger traffic, Indias civil aviation industry hitturbulent weather in 2011, with rising jet fuel and interest costs 2%eating into the margins of carriers. Issue of rationalisation of federal 8%and state levies on jet fuel is still to be addressed. Government has 22%proposed to allow foreign airlines to buy up to 49% stake in thedomestic carriers.? of Air India and Kingfisher are in deep red. KingfisherFinances Admin / Accountants etcAirlines, which had acquired Air Deccan in 2007, shut down thebudget operations to become a full-service carrier. The only carrier Core Activities includingthat remained a profit-making operation is the low-cost IndiGo. This Marketing and BD by functionhas severely restricted the growth prospect of the sector. Customer ServiceThe highway construction target of 20-km a day set by the National? Senior ManagementHighways Authority of India (NHAI) has still not been realised. Only8.75 km a day has been constructed in the current financial year tilldate. The highway construction target for the current year was set at3,570 km - 2,500 km for NHAI and 1,070 km for the Road TransportMinistry. However, only 624 km has been completed by the Ministry 69%and NHAI has been able to complete 690 km.Construction of rural roads under the Prime Minister Gram Sadak?Yojana is in troubled waters in many places due to Maoist threat.?Railways carried 704.75 million tonnes of revenue-earningIndianfreight traffic during the first three quarters of the FY 2011-12,showing 4.67% y-o-y growth. Total earnings during April toDecember 2011 registered an increase of 10.20%. Total numbers of 13%passengers booked during the period were 5987 million compared to 26%5691 million last year, showing an increase of 5.20%.According to Indian Port Association, container traffic through major?ports in India grew by 4% year-over-year in the first eight months of Campusfiscal 2011-12. Traffic at the ports from April through November was5.18 million 20-foot equivalent units, up from 5 million a year earlier. HR AgencyThe tonnage of containerized traffic increased by 8.2% to 79.6 by hiring sources 25% Referralsmillion metric tons. 5% Social Media?Shipping Minister G.K. Vasan said the government plans toIndianexpand overall port capacity to 3.13 billion tons by 2020 with an Othersanticipated total investment of about $100 billion. 32% Increase in Salary Lateral Job Shift Estimated Employment Estimated Employment Expected Employment Expected Employment September 2011 December 2011 March 2012 December 2012 12.4% 11.1% 2,722,000 2,730,403 2,740,445 2,779,883 Estimated increase Expected increase during Oct - Dec 2011 during Jan - Mar 2012Note: Employment numbers are given as round figures
  • 19. city-wise employment outlookFor all the cities except Delhi & NCR, Hyderabad and Delhi & NCRBangalore, Oct-Dec 2011 employment growth rates Delhi had a lower than average employment growth in Oct-Decwere lower than Oct-Dec 2010 quarter. The 2010 quarter. Compared to it, the growth rates in Calendar Yeardifference is marginal in case of Hyderabad. For the 2011 thus look better. However, we can also see a dip in theother two, the uptick seems more due to the growth rates in the second half of 2011. The 4.9% job growthsignificantly below average rate of employment expectation for next quarter is better than both last quarter and Calendar Year 2011 average. The sectors expected to show highestgrowth recorded in the Oct-Dec 2010 quarter. job growth are Pharma, Education, IT/ITES and Manufacturing. TheOverall, the 8 city average growth rate fell from 5.2% Real Estate sector employment outlook has also improved, and willin Oct-Dec 2010 to 4.3% in Oct-Dec 2011. The create jobs in greater numbers.sharpest falls were seen in Chennai, Pune andKolkata. The outlook going into Jan-Mar 2012 quarter Hyderabadseems much improved. Only Hyderabad and Kolkata Hyderabad employment numbers grew at around 4% in the firstshow a marginal dip in expected employment growth three quarters of Calendar Year 2011. The growth rate acceleratedrate in Q1, CY 2012 compared to the last quarter. All to 4.7% in the Oct-Dec 2011 quarter. Jan-Mar 2012 outlook remains stable at 4.5% expected employment growth. Mostthe other cities are expected to log higher growth in optimistic growth outlooks are observed in IT/ITES and Pharmaemployment numbers. sectors. Healthcare, Hospitality and Transport, Storage & Communication sectors are also going to be important players.Ahmedabad KolkataIn Ahmedabad, the employment numbers grew at a consistent3.6% rate, through all the quarters of Calendar Year 2011. This Kolkata employment growth was lower than the eight city averagewas however lower than the 4.9% rate of growth clocked in Oct- throughout 2011. It though managed to reduce the gap in the Oct-Dec 2010 quarter. The employment outlook for the current Jan- Dec 2011 quarter. At 4.0% expected growth in Q1 of CY 2012, itsMar 2012 quarter looks to have improved with job numbers outlook does not show much improvement compared to lastexpected to rise by 4.8%. The sectors expected to show highest quarter and continues to be below the 8 city average. Media andemployment growth are Healthcare, Pharma and IT/ITES. These are Hospitality sectors are most optimistic about new hiring in theclosely followed by the Manufacturing-Non-machinery and current quarter.Manufacturing-Machinery and Equipments sectors. MumbaiBangalore Mumbai employment grew at 4.0% over the first three quarters ofExcept for a marginal dip in July-Sept 2011 quarter, employment 2011, lower than the 4.5% growth rate recorded in the last quarteropportunity in Bangalore grew at 4% plus level. The outlook for of Calendar Year 2010. It dipped further to 3.8% in the Oct-DecQ1of CalendarYear 2012 looks to be better than the 2011 average. 2011 quarter. Its outlook for Q1, Calendar Year 2012 showsThe sectors expected to show the highest employment growth are significant improvement. BFSI, IT/ITES and Hospitality are the mostMedia, Pharma, Healthcare and IT/ITES. optimistic sectors.Chennai PuneChennai had a stellar employment growth in the fourth quarter of Among the 8 cities, Pune’s employment growth scenario has beenCalendar Year 2010. The growth numbers for Calendar Year 2011 the most buoyant with higher than average growth across allwere progressively lower in comparison. It optimistically looks quarters surveyed. Its lowest rate of growth was in July-Sept 2011forward to Q1, CY2012 to salvage the fall with an expected 4.4% quarter, but has seen significant turnaround since then. Itsincrease. The sectors with better growth outlook are Retail, employment is expected to grow at 6.6% in Q1, Calendar YearPharma, Media, Hospitality, and Manufacturing. 2012. Hospitality, Retail, Healthcare, Non-machinery Manufacturing, IT/ITES and Education are the most promising sectors. Estimated Jobs in 2011 Expected Jobs - January to March 2012 16000 39,100 34,200 14000 12000 10000 19,100 8000 6000 4000 7,800 7,600 4,700 5,200 2000 2,500 109,600 110,900 62,200 24,900 22,400 15,700 12,900 7,100 Mumbai Delhi & NCR Chennai Kolkata Bangalore Hyderabad Pune Ahmedabad
  • 20. summary and conclusionThe current Ma Foi Randstad Employment Survey (MEtS) covers employment generation and other related issues such assectoral distribution of job growth, salary hikes for lateral job shifts, composition of new hires in terms of experience,functional area and hiring sources for the October-December Quarter of Calendar Year 2011 and captures the industryexpectations on how the employment scenario will develop over the January-March 2012 Quarter of CY 2012. A summaryreview of job generation record of the 13 sectors in the previous year is also presented, and compared against expectedscenario in 2012.In the full calendar year 2011, around 1.4 million jobs were generated in the 13 sectors covered by MEtS. This is more than10% lower than the 1.6 million job generation expected at the beginning of 2011. The last quarter data, however, managesto look better than expectations. 0.36 million jobs were generated in October-December Quarter of Calendar Year 2011against an expectation of 0.33 million. The better than expected employment growth figure is supported by the recentlyreleased November IIP numbers. Industrial production in November 2011 not only reversed the negative growth of October2011, but also managed to beat the growth rate of the previous four months. This improvement in industrial climate hashelped in generating more jobs than was expected at the beginning of the Oct-Dec 2011 quarter.Healthcare, Hospitality and IT/ITES were the major job creators in the last quarter. Media and Entertainment also didparticularly well. Real Estate & Construction and Transport, Storage & Communication sectors were the underperformers.Going forward, in 2012, companies in the Pharma, IT/ITES, Media & Entertainment and Real Estate & Construction sectors aremost optimistic about new hiring – with up to 10% plus job growth rates. In terms of number of jobs expected to be created,Healthcare, Hospitality and IT/ITES are looking forward to add more than 2 lakh jobs, whereas Manufacturing (non-machineryproducts), Media & Entertainment and Real Estate & Construction sectors are expecting 1 lakh plus additions.The international economic gloom is far from over, except some titbit of positive news from US. Many of the domesticeconomic worries like inflation, rupee depreciation, budget deficit are still not back to the comfort zone. However, themarket sentiments are positive with hope for better performance during 2012, now that worse is over. The latest MEtS surveyseems to capture this mood, with almost all the sectors showing a better growth outlook for the coming months, relative totheir performance during the October-December Quarter of Calendar Year 2011.
  • 21. Appendix Estimated Expected Expected A1: Expected Increase in Employment across Different Sectors Employment Employment Employment December 2011 Jan - Dec 2012 Jan - Mar 2012Banking, Financial Services and Insurance 968,055 71,605 15,657Education, Training and Consultancy 9,886,593 87,290 23,815Energy 924,528 30,208 7,710Healthcare 3,621,177 273,571 72,473Hospitality 6,309,121 230,213 60,308Information Technology & Information Technology Enabled Services 2,102,421 227,328 54,926Manufacturing - Machinery and Equipment 1,190,736 59,180 12,732Manufacturing - Non-Machinery Products 4,662,741 163,075 40,245Media and Entertainment 1,482,898 162,264 43,474Pharma 335,455 59,957 13,642Real Estate and Construction 988,815 132,906 26,669Trade including Consumer, Retail and Services 693,534 54,230 13,832Transport, Storage and Communication 2,730,403 49,480 10,042 Estimated Average Increase Expected Average Increase A2: Expected Increase in Salary across Different Sectors - Lateral Job Shift during October to December 2011 during January to March 2012Banking, Financial Services and Insurance 11.7 % 12.5 %Education, Training and Consultancy 11.2 % 11.5 %Energy 11.8 % 12.2 %Healthcare 16.1 % 16.0 %Hospitality 14.9 % 15.3 %Information Technology & Information Technology Enabled Services 15.9 % 18.5 %Manufacturing - Machinery and Equipment 10.4 % 10.9 %Manufacturing - Non-Machinery Products 13.5 % 14.5 %Media and Entertainment 15.3 % 16.7 %Pharma 16.8 % 15.6 %Real Estate and Construction 13.0 % 13.1 %Trade including Consumer, Retail and Services 14.4 % 15.9 %Transport, Storage and Communication 12.4 % 11.1 % During October to December 2011 A3: Composition of New Hires by Experience Less than 1 year 1 to 4 years 5 to 10 years More than 10 yearsBanking, Financial Services and Insurance 28.90 % 38.60 % 29.70 % 2.70 %Education, Training and Consultancy 25.30 % 38.20 % 32.60 % 3.90 %Energy 25.40 % 29.30 % 42.70 % 2.50 %Healthcare 17.30 % 42.50 % 38.40 % 1.90 %Hospitality 26.00 % 39.20 % 32.80 % 2.60 %Information Technology & Information Technology Enabled Services 25.00 % 38.70 % 29.80 % 6.50 %Manufacturing - Machinery and Equipment 20.20 % 42.40 % 33.60 % 3.90 %Manufacturing - Non-Machinery Products 18.90 % 53.70 % 26.70 % 0.70 %Media and Entertainment 18.10 % 49.20 % 25.70 % 7.00 %Pharma 20.80 % 31.80 % 46.10 % 1.40 %Real Estate and Construction 25.00 % 38.00 % 35.80 % 1.20 %Trade including Consumer, Retail and Services 21.30 % 43.50 % 28.30 % 6.90 %Transport, Storage and Communication 34.00 % 42.80 % 23.20 % 0.10 % During October to December 2011 A4: Composition of New Hires by Functional Areas Support functions Core activities including Customer Services Higher Management such as Marketing and related Admin./Accounts etc. Business DevelopmentBanking, Financial Services and Insurance 12.10 % 44.20 % 41.30 % 2.40 %Education, Training and Consultancy 9.30 % 67.30 % 21.30 % 2.10 %Energy 13.90 % 67.40 % 16.00 % 2.70 %Healthcare 16.00 % 38.70 % 43.80 % 1.50 %Hospitality 12.90 % 44.50 % 41.20 % 1.40 %Information Technology & Information Technology Enabled Services 6.00 % 62.00 % 30.40 % 1.60 %Manufacturing - Machinery and Equipment 9.30 % 68.60 % 19.30 % 2.80 %Manufacturing - Non-Machinery Products 11.50 % 70.30 % 17.60 % 0.60 %Media and Entertainment 11.50 % 53.80 % 33.10 % 1.60 %Pharma 7.50 % 66.40 % 24.50 % 1.60 %Real Estate and Construction 11.90 % 71.00 % 16.60 % 0.50 %Trade including Consumer, Retail and Services 12.30 % 64.90 % 22.10 % 0.70 %Transport, Storage and Communication 8.30 % 68.70 % 21.50 % 1.50 %
  • 22. Proportion of New HiresA5: Share of Different Hiring Sources for New Hires Campus HR Agency Referrals Social Media OthersBanking, Financial Services and Insurance 17.00 % 32.40 % 24.10 % 4.30 % 22.30 %Education, Training and Consultancy 10.40 % 31.20 % 20.10 % 1.90 % 36.40 %Energy 12.00 % 29.20 % 21.70 % 10.10 % 26.90 %Healthcare 14.20 % 31.90 % 23.20 % 6.20 % 24.50 %Hospitality 12.20 % 27.80 % 26.60 % 3.80 % 29.60 %Information Technology & Information Technology Enabled Services 17.70 % 28.70 % 32.40 % 7.70 % 13.60 %Manufacturing - Machinery and Equipment 9.60 % 31.50 % 23.30 % 5.30 % 30.40 %Manufacturing - Non-Machinery Products 8.70 % 28.70 % 31.30 % 2.90 % 28.50 %Media and Entertainment 8.10 % 26.70 % 38.60 % 3.00 % 23.60 %Pharma 9.10 % 36.10 % 24.00 % 1.50 % 29.30 %Real Estate and Construction 6.70 % 33.10 % 32.50 % 6.00 % 21.60 %Trade including Consumer, Retail and Services 12.40 % 22.50 % 28.80 % 5.60 % 30.80 %Transport, Storage and Communication 12.50 % 24.90 % 31.80 % 5.00 % 25.80 % Increase in Employment Growth in EmploymentA6: City-wise Expected Increase in Employment and Growth Rate Estimated Estimated Expected Estimated Estimated Expected Jan - Dec 2011 Oct - Dec 2011 Jan - Mar 2012 Jan - Dec 2011 Oct - Dec 2011 Jan - Mar 2012Ahmedabad 7100 1900 2500 3.6 % 3.6 % 4.8 %Bangalore 22400 6400 7600 4.3 % 4.6 % 5.3 %Chennai 62200 15900 19100 3.9 % 3.8 % 4.4 %Delhi & NCR 110900 28100 34200 4.4 % 4.2 % 4.9 %Hyderabad 15700 4700 4700 4.2 % 4.7 % 4.5 %Kolkatta 24900 7700 7800 3.5 % 4.1 % 4.0 %Mumbai 109600 28000 39100 4.0 % 3.8 % 5.1 %Pune 12900 4000 5200 4.6 % 5.3 % 6.6 % Average Salary HikeA7: City-wise Likely Increase in Salary - Lateral Job Shift Estimated Estimated Expected Jan - Dec 2011 Oct - Dec 2011 Jan - Mar 2012Ahmedabad 14.3 % 15.0 % 14.1 %Bangalore 15.0 % 13.8 % 15.7 %Chennai 14.3 % 12.2 % 13.9 %Delhi & NCR 14.5 % 12.2 % 14.3 %Hyderabad 14.2 % 12.7 % 14.8 %Kolkatta 13.7 % 13.7 % 13.4 %Mumbai 14.2 % 11.1 % 15.5 %Pune 14.9 % 12.7 % 14.7 %A8 : City-wise Share of Different January to December 2011 October to December 2011Experience Brackets amongst New Hires Less than Greater than Less than Greater than 1 year 1 to 4 years 5 to 10 years 10 years 1 year 1 to 4 years 5 to 10 years 10 yearsAhmedabad 21.2 % 40.8 % 34.9 % 3.1 % 17.4 % 44.9 % 34.3 % 3.4 %Bangalore 15.0 % 47.0 % 35.9 % 2.1 % 11.9 % 53.6 % 32.7 % 1.9 %Chennai 27.9 % 38.2 % 32.8 % 1.1 % 31.3 % 34.5 % 33.7 % 0.5 %Delhi & NCR 26.4 % 38.7 % 32.4 % 2.5 % 31.8 % 33.4 % 32.9 % 1.9 %Hyderabad 22.1 % 42.1 % 33.3 % 2.5 % 19.6 % 39.2 % 36.9 % 4.4 %Kolkatta 24.1 % 57.1 % 15.3 % 3.6 % 20.0 % 59.1 % 17.7 % 3.2 %Mumbai 23.6 % 37.2 % 34.5 % 4.7 % 26.7 % 44.6 % 23.6 % 5.1 %Pune 30.3 % 33.3 % 33.0 % 3.4 % 22.4 % 33.1 % 41.1 % 3.4 % January to December 2011 October to December 2011A9: City-wise Share of Different Core activities Support functions Core activities Support functions includingFunctional Areas amongst New Hires such as including Marketing and Customer Services related Higher Management such as Marketing and Customer Services related Higher Management Admin./Accounts etc. Business Development Admin./Accounts etc. Business DevelopmentAhmedabad 15.3 % 52.1 % 31.0 % 1.7 % 9.7 % 47.1 % 42.0 % 1.2 %Bangalore 11.6 % 49.2 % 36.8 % 2.3 % 8.7 % 51.7 % 38.2 % 1.4 %Chennai 13.8 % 54.2 % 30.8 % 1.1 % 10.8 % 64.2 % 23.5 % 1.5 %Delhi & NCR 12.2 % 55.9 % 30.0 % 1.9 % 9.7 % 50.8 % 37.4 % 2.1 %Hyderabad 10.9 % 56.3 % 29.8% 3.0 % 9.2 % 67.8 % 20.4 % 2.6 %Kolkatta 19.1 % 66.3 % 12.1 % 2.5 % 11.9 % 72.0 % 14.8 % 1.3 %Mumbai 12.9 % 65.0 % 20.7 % 1.4 % 9.9 % 68.5 % 20.2 % 1.4 %Pune 12.9 % 61.0 % 21.7 % 4.4 % 10.3 % 59.9 % 27.6 % 2.2 %
  • 23. HR Statistical Research about Ma Foi RandstadWe offer comprehensive research consulting that helps our Ma Foi Randstad is an international HR service provider servicing world class companies across the globe. Started in 1992, the company has grown into aclients in informed decision making. Our team of dedicated full spectrum HR services provider for clients worldwide. It has helpedresearch professionals use proven research methods to gather generate career opportunities for thousands individuals in 36 countries anddata, interpret it and prepare a comprehensive and valuable has worked for over 250 Fortune 500 for the client. Ma Foi Randstad offers the broadest HR services portfolio ranging from Search, Selection, Staffing, Inhouse Services, Consulting, Outsourcing,Some of our research services include: Training and Assessment. 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Our services range from regular temporary staffing andfacilities among others. permanent placement to inhouse, professionals, search & selection, and HR Solutions. The Randstad Group is one of the leading HR services providers in? pool analysis helps in theResource the world with top three positions in Argentina, Belgium & Luxembourg,assessment. Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, the UK, and the United States as well as major positions in Australia and Japan. End 2011 Randstad hadIf you are looking for statistical research approximately 28,700 corporate employees and around 4,700 branches andassistance, please write to us at inhouse locations in 40 countries around the world. Randstad generated revenue of € 16.2 billion in 2011. Randstad was founded in 1960 and isor call us at +91 44 61016101 headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see about Indicus Analytics Indicus Analytics is an economics research and data analysis firm based in New Delhi. Indicus examines many aspects of the Indian economy both at the national and sub- national level It conducts monitoring and evaluation studies, indexation and ratings, as well as policy research. The endeavour of this research is to use it to broaden the public policy debate to promote liberalism and the mechanisms of the market for the stimulation of growth in India. The extension of the competitive market mechanism of resource allocation to the economy as a whole requires rigorous and robust understanding of institutions that will facilitate the extension. Indicus research thus focuses on the institutional capabilities as well as the regulatory processes of these institutions. 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Key decision-makers such as the President of India Dr. A.P.J Abdul Kalam, the Prime Minister Dr. Manmohan Singh and the Finance Minister Mr. P. Chidambaram have referred to Indicus work. Constant interaction with national and international experts and our ongoing non-funded research activities are the key factors that enable us to maintain a high quality of output. Our persistent endeavor to keep abreast of new developments in research methodology gives us the ability to bring out fresh insights from otherwise intractable information. Most important factor behind our success has been our ability to triangulate between (i) the objectives and motivations of the sponsor, (ii) information availability and robust methodologies, and (iii) structure of the Indian economy. Apart from quantitative economic research of secondary data, Indicus conducts large scale surveys, qualitative analysis, indexation, forecasting, evaluation and monitoring, publishes white papers and policy briefs.
  • 24. for more details please write to sales.enquiry@mafoirandstad.comor call us at +91 44 61016101Corporate Office: Ma Foi Management Consultants Ltd. 49, Cathedral Road, Chennai 600 086.