IT and ITES:
Till the mid-1980s, IT & ITES as a sector barely existed. Computer science was a subject pursued only by the elite in engineering colleges. Then Y2K happened and Indian companies began recruiting engineers, even those from the non-IT segment, as poorly paid programmers to execute projects for their overseas clients.
It hasn't stopped since. Computer science has now become the hottest subject in educational institutions-from universities to IITs to even B-schools that are offering specializations in IT and systems.
The sector's growth story has been truly impressive. Touching $15.9 billion (Rs.67, 000 cr.) in 2003-4, the industry's contribution to India's GDP has risen from 1.4 per cent in 1998-99 to over 3 per cent now.
By 2008, the sector would be contributing 7 per cent to the GDP and 35 per cent to the exports. But the industry's significance in India's job market lie much beyond these numbers. With 8.5 lacs workers, the IT & ITES sector has a small employee base.
But in the past couple of years, it has been setting benchmarks for jobseekers and India Inc. Learning from the IT sector, corporate India is aggressively globalizing and tapping the exports market while adopting world-class employee management systems. The five-day week schedule, offices equipped with cafeterias, lounges and gyms, dollar salaries, overseas assignments-jobseekers from various sectors are getting a taste of the standard the IT sector has set.
Thankfully, this good news is no longer limited to the high-end white collar jobseekers. The buoyant BPO sector is absorbing English-speaking graduates in the thousands. In 2005, IT & ITES will be the biggest job generator, creating more than 2.75 lacs jobs. India's huge cost advantages with quality assurances and large pool of skilled manpower will keep the going smooth. More than 250 of the Fortune 500 firms outsource their IT needs to India. There is more growth in store.
Top 5 companies in India:
It does not have the glamour of the IT world. Nor does it have a sizzling growth story like the telecom. But here's a turnaround story that nobody thought would ever happen. Three years ago, the Rs.1, 86,000 cr. textile and garment industry was known more for its problems than its opportunities.
True, the sector accounts for nearly 4 per cent of India's GDP and accounts for about 20 per cent of its earnings. With 83 million workers, it employs close to 8 per cent of the country's population. Yet, the textiles sector rarely made news in the job market. It looks like this all is beginning to change.
Industry estimates for 2005 make it the second largest job-generating sector after IT & ITES. After the removal of country-specific quota on garment exports from January 1, 2005, the industry has been hit by a wave of hope. The sector is undergoing an overhaul.
Export orders have surged. Post-quota regime, big Indian exporters are ramping up production as they expect no global buyer would want to put all its eggs in the China basket. It is estimated that annual exports will $13.5 billion (Rs.60, 500 cr.) to $50 billion by 2010. The industry is expected to make investments of Rs.18, 000 cr. in the next 12-18 months and create 12 million jobs (direct and indirect).
Thankfully the government is waking up now. It is considering flexible labor laws for the garment sector. Most textile and garment companies are on a recruitment spree. Orient Craft, which hired 3,500 people in the past two years, is looking at far bigger numbers in the next two years.
Headhunters and placement companies which rarely handled mandates from textile firms are setting up dedicated teams to manage their needs. What is interesting is that besides offering well-paying jobs, the industry offers plenty of blue-collar jobs as well. The only flipside: not-so-professional work environment. But improvement is on the cards.
Top 5 companies in India:
· Arvind Mills
· Garden Silk Mills
· Gokuldas Group
· Bombay Dyeing
India has the eighth largest telecom network in the world with an estimated size of 9 dollars billion
Name it and they have it. Here is a sector that has a job for virtually everyone-well-paid MBAs to plan their business growth, English-speaking graduates for their customer-care back office, low-end blue-collar workers for laying telecom networks, sales and marketing executives for pushing sales and engineers for the upcoming manufacturing and maintenance jobs.
The good news is that such a broadband growth story will continue in the future. It wasn't so in the 1990s when an extremely regulated sector with the PSU monopoly grew at a snail's pace thanks to high tariffs and choked infrastructure.
With privatization and dramatic policy initiatives, the sector has witnessed a virtual turnaround over the past decade. Tariffs have tumbled. Local mobile calls costRs12per minute in 1995 and long distance over Rs.40 per minute. Today, it costs less thanRs.3 per minute for calls to any part of the country. Growing at 20 per cent, telephone connections grew from 27.53 million in 2000 to 93 million by 2004. Tele-density has gone up from 2.86 per hundred people in 1999-2000 to 8.5 now.
Today, India has the eighth largest telecom network in the world with an estimated size of $9 billion (Rs.40, 000 cr) and is expected to touch a high of $23 billion by 2010. Such a sharp growth has led the telecom companies to hunt for talent across all sectors. One can get brilliant customer-support staff from the hospitality and BPO sectors, sales executives from FMCG, systems experts from the IT sector and engineers from the manufacturing sector.
This offers a great opportunity for jobseekers to work with people from diverse background. But like the IT and services industry, here is a caveat. Since it is a very technology-led sector, obsolescence of skills is very high. "To ensure employability people will constantly need to update their skills," says Steve Correa, chief human resources officer, Hutchison Essar.
Top 5 companies in India:
· Reliance Info
· Bharti Group
· Tata Teleservices
In the past two years, the retail loan market has grown over 100 per cent Every time you take a loan-home, vehicle or personal. Every time you use your credit card. Every time you buy an insurance policy, a share or a mutual fund. Through each of these transactions-and many more-you create a demand for one or the other financial services.
And that demand invariably translates into a job in one or the other financial services. Nowhere is this growth more visible than in the consumer banking industry where the number of savings accounts has gone up exponentially. ICICI Bank, for example, has seen its depositor base grow from six lakh in 2000 to 1.1 cr in 2005.Bank branches have become modern, and automation has taken over big time with banks across the spectrum installing ATM machines for cash withdrawals.
The erstwhile credit averse-country has seen a sharp growth in consumer lending since 1999 when the interest rates started dipping. In the past two years, the retail loan market has grown over 100 per cent from Rs.44, 100 cr in 2001-2 to Rs.1, 00,000 cr in 2003-4 and is expected touchRs.1, 34,000 cr by March 2005. The biggest surge has happened in home loans which comprise close to 47 per cent of the pie.
The credit card base has grown in tandem, touching 12 million by 2004-end as against 0.3 million in 1990. The insurance sector has been a new growth story. It is estimated that 700 insurance agents are being added every month by the industry. But better still is the fact that liberalization has also altered the landscape of the jobs the sector offers.
The demand for sales, marketing and call-centre executives is enormous. Headhunters estimate that 40 per cent of the new hiring is for sales people. The small breed of investment bankers, relationship managers and deal makers are among the best paid and the most sought after in the job market today.
Top 5 companies in India:
· ICICI Bank
· HDFC Bank
· UTI Bank
· ABN Amro
· HSBC, Stand chart
India is the second largest emerging retail market in the world after China. Retail can be considered as a great job opportunity. Most middle-class Indians would have sneered at the thought of retail as a preferred choice for a career. And it is not without reason. Retail in India has largely been-and still is-an unorganized sector and the jobs it offered were never respectable, well-paying or inspirational. For the educated, middle-class Indians, becoming a sales agent or a merchandise manager was not an option to be considered.
All that has changed in the past five years as professional organizations have got into the fray in every segment. From coffee shops like Barista to grocery stores like Sabka Bazaar, food chains like McDonald's to fashion stores like Westside, gadget retailers like Sony World to fitness accessory sellers like Reebok, organized retailing is growing rapidly both in size and respectability. The retail industry has been booming.
According to retail expert KSA Techno Park, the industry has grown more than five times in as many years. From Rs.5, 000 cr in 1999 to Rs.28, 000 cr in 2004, India's organized retail market has made a giant leap. The total retail market is pegged atRs.8, 75,000 cr and a 2002 estimate puts employment at 42 million. Experts say the sector creates 1.4 million jobs every year. It is expected to grow by 25-30 per cent annually to touchRs.1, 00,000 cr by 2010.
A rising disposable income, changing lifestyles and growing consumerism will only bolster growth in retailing as is evident from the mushrooming of multiplexes, hypermarkets and malls. Over 100 malls are expected in Delhi and its suburbs in the next three years.
The national tally would go up from 20 to 900 by 2009. India is the second largest emerging retail market in the world after China. This is an employment-intensive sector. A rough estimate pegs the direct jobs offered by the organized sector at 50,000 and sees the boom spreading to smaller cities.
Top 5 Companies in India:
· Shopper's Stop
· Food World
· Life Style
· Pizza Hut