Bangalore is the job center of India
Thursday, June 5, 2008 22:1 PM. Posted by Marasaw.com (101 views)New Delhi: Despite the fears of talent crunch in the country, India witnessed a 12 percent growth in employment by privately-held businesses last year, with Bangalore leading the cities’ roster, a latest report says.
According to the International Business Report (IBR) by global consultancy firm Grant Thornton International, Vietnam tops the employment growth index 2008 with a 14 percent rise in employment by privately-held businesses, followed by India and China at 12 percent each.
Among the Indian cities, Bangalore topped the list by 16 percent growth in employment, followed by Chennai, Pune and Ahmedabad at 14 percent. The country’s financial hub Mumbai and national capital Delhi showed a growth of only nine percent each this year, the report stated.
“Developing Asia will account for two-thirds of rise in employment growth, with India alone making up 30 percent of the net increase in global employment with 142 million new jobs by 2020,” Grant Thornton India’s national staff partner Vinamra Shastri said.
The employment growth in Bangalore, Chennai, Pune and Ahmedabad is due to the higher concentration of human-capital among the IT/ITES industries in these cities, Shastri added.
The countries like Thailand (negative 4 percent), Italy (0 percent), France, Ireland and New Zealand (all 1percent) are at the bottom with a negative growth in employment.
Globally, employment in privately-held businesses is up 4 percent this year, which is a slight improvement from last year when it had grown by 3 percent, the report said. “It is good to see that employment increased this year, despite concerns about the credit crisis and the availability of a skilled workforce. Privately-held businesses rely on their employees to survive in an increasingly competitive market,” Grant Thornton International’s global leader of privately-held business services, Alex Macbeath said.
Source: siliconindia.com
