IT, banking, agri-biz to be key job creators in 2014

Information technology, banking and agriculture-related businesses are going to be among the key job

RELATED ARTICLES

creating sectors in 2014, according to a study by industry body Assocham.

"Information Technology (IT), pharmaceuticals, banking and agri-related industries such as farm equipment, fertilisers and seeds, will remain the largest employment generation sectors in 2014," the chamber said in its study.

All these sectors will stand out despite the present state of the economy where net employment is being lost and not created in a large majority of sectors.

IT will remain the net aggregator of jobs in 2014 due to recovery in the US economy, it said.

"The US economy is showing signs of improvement... A large number of American firms are expected to increase their IT spend as consumer sales pick up there," it added.

Continuous pressure on rupee will help increase the net income of IT companies and they will keep hiring, it pointed out.

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

Pharma sector will continue to hire in 2014. But because of some setbacks and tightening of regulations in the US and some other markets, the companies will have to invest more in improving their manufacturing and Research & Development.

Further, the study said that agri-based industries are expected to do better in 2014 on the back of a good rabi crop.

"The positive spin off would be evident in a whole lot of industries which are directly linked such as tractor and farm equipment manufacturers, irrigation firms and those involved in developing and selling seeds and fertilisers", it said.

On banking, the study said that 2014 is expected to be a better year for the sector.

"The NPAs would be reduced since the focus is very much there on the issue and there are signs of recovery in some segments of the economy. Besides, a huge number of backlog vacancies have to be filled up in public sector banks."

For the private banking sector, new licenses, which are likely to be given before April, will throw up new job opportunities.

While the new banks will leverage technology, job opportunities will arise both in brick and mortar as also in development and implementation of technology solutions, the study added.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The government might not get the timing right for its massive share sale plan

    A common thread binding the BJP’s first budget with the last three UPA budgets is the aggressive disinvestments targets set to mop up additional rev

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Welfare must be humanitarian not political

We are a very political people. We politicise and corrupt ...

Purnendu Ghosh

How to distinguish a need from a want?

The day when the annual budget is announced is one ...

Shona Adhikari

Decades apart, yet a common ground in fine art

Today’s column is about two artists born many decades apart, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture