World Economy

India Promises 1m Jobs, 40% Pay Hike

India Promises 1m Jobs, 40% Pay HikeIndia Promises 1m Jobs, 40% Pay Hike

It may be a bumper new year for the job market, with India Inc planning to create close to 10 lakh (1 million) new jobs and dole out pay hikes of up to 40 percent for best performers in 2015.

The average salary increments may also be higher in the range of 15-20 percent, as against 10-12 percent across various sectors during 2014. New-age sectors like eCommerce are likely to see relatively higher pay hikes, PTI quoted The Asian Age as saying.

With GDP growth rate being pegged at near 5.5 percent, after sub-five percent growth in recent past, businesses across sectors are expected to grow, experts said, and this should result in a strong job market rally as well.

In addition, India has a competitive advantage of demographic dividend, which would together with the hiring intensity, mark a new era of recruitment in the country.

Human resource experts believe, that job market in 2015 is going to be in a strong hiring mode and companies are preparing themselves for aggressive recruitments across the board.

In addition, there are expectations that a large number of global players would come to set shop in India, thus creating a lot of job opportunities at leadership and other levels.

According to a new survey by, the year 2015 is coming with positive vibes for job seekers and is expected to create 9.5 lakh new jobs in different sectors, with IT & ITeS and FMCG sectors leading the chart.