IT, pharma, banking and agriculture to remain key employment generators in 2014: Assocham

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

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

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

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

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

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

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

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

Dion Global Solutions Ltd.

Story first published: Monday, December 30, 2013, 9:12 [IST]
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