Hiring by corporate India rose by 12-month high annual rate of 31% in December 2024, in what signalled a surge in job openings in the formal sector, according to data released by foundit Insights Tracker. The latest number also showed an acceleration of hiring activity in recent months, with average July-December growth coming in at 12% on year.
“The growth is reflected across 22 of the 27 sectors monitored, with consumer electronics, manufacturing, and construction & engineering leading the charge with 60%, 57% and 57% year-on-year, respectively,” foundit said.
Moreover, artificial intelligence (AI) jobs have seen exponential growth of 42% in the past two years. To be sure, in the past six years, the number of roles expanded from 40,000 to 253,000, growing at an impressive CAGR of 36%.
The IT sector remains the biggest driver of AI hiring, with Python being the most sought-after skill. Similarly, the IT hub Bengaluru leads as the top location for AI talent.
foundit predicts that a 14% rise in AI hiring for 2025 which would be primarily driven by industries embedding AI into their core operations.
“The growth in hiring activity across sectors underscores the resilience, adaptability, and dynamism of India’s job market. What’s particularly exciting is the explosive growth in AI, showcasing the transformation of an important skill set to a core driver of the economy. We are witnessing a paradigm shift where AI is no longer a futuristic concept, but a fundamental element of India’s present and future workforce,” said V Suresh, CEO of foundit.
In terms of roles, the tracker said that medical roles saw highest growth annually registering a 44% increase with key roles in telemedicine, diagnostics, and specialised nursing witnessing a sharp uptick. The HR & admin professionals experienced a double-digit annual increase in December with a notable 21% rise over the past three months, as per the tracker.
Meanwhile, the annual hiring demand has varied across experience levels with entry-level roles (0-3 years) increasing by 18% and mid-senior roles (7-10 years) up by 20%. Senior-level positions (11-15 years) grew by 5%, while executive roles (16-plus years) declined by 6%.
In December, annual hiring surged across all 13 monitored cities, the tracker said. “Coimbatore led with a 58% annual growth while Bengaluru and Chennai followed with a rise of 41% and 37%, respectively. Mumbai registered the highest month-on-month increase with an 11% jump in the hiring activity last month,” it said.