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India Inc eyes Lok Sabha poll booster to create 2 million new jobs

Apr 06 2014, 13:19 IST
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However, hiring activities may accelerate substantially if the Lok Sabha polls results in a stable government with minimal alliance partners and consequently more than 20 lakh new jobs can be created during 2014, consultants say. However, hiring activities may accelerate substantially if the Lok Sabha polls results in a stable government with minimal alliance partners and consequently more than 20 lakh new jobs can be created during 2014, consultants say.
Summary'A stable government with minimal allies shall definitely contribute towards a positive job landscape'

gauge of the country's online job demand, is on an uptrend since October 2013.

Surveys conducted by leading job portal Naukri.com also show similar results. According to the portal, hiring activity in India saw significant improvement in the first two months of 2014 and this momentum is likely to pick up significantly going forward once the uncertainty around elections are over.

HR experts said that the Indian economy is already showing signs of growth and a revival of manufacturing sector can exponentially improve the organised employment landscape.

Many political parties have also made tall promises around the job market. The worrying factor remains, however, that there seems to be no clarity around the path towards fulfilling these promises, experts said.

While every political party may commit itself to creating new job opportunities, it may be difficult for any ruling party to implement their plans if there are five or 10, or even more, coalition partners as that might put a question mark on the stability of such a government.

In such cases, even the global investors' confidence goes down and they remain in wait-and-watch mode till the time they get convinced for their investment returns, which in turn creates lot of job opportunities, GlobalHunt's Goel said.

Irrespective of which government comes to power, the actual boost to the job market would not come from the government-sponsored guaranteed employment schemes, but would need job creation in the organised sector, the HR head of a leading corporate house said.

This can be possible only through revival of manufacturing sector and through greater emphasis on infrastructure development and by rationalisation of labour laws, he added.

According to ManpowerGroup's latest Employment Outlook Survey, India has emerged as the most optimistic nation in terms of hiring plans for the next three months and sectors such as aviation, IT & ITeS and retail are likely to see an increase in payrolls.

Employers across most sectors in India had been apprehensive about hiring due to uncertainty in overall business environment. However, things are expected to improve in 2014, found the survey which covered 5,302 employers in India.

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