Hyderabad, India – India’s manufacturing industry is showing promising growth with a significant 36 percent surge in job opportunities, reinforcing the nation’s commitment to becoming a global manufacturing hub, as per recent data from Indeed, a premier job website.
The manufacturing sector continues to be a top functional area for employers, with a consistent quarter-over-quarter rise observed from September 2022 to 2023. While this growth is positive, the data also reveals a noteworthy trend. Despite increased hiring, there’s been a 3 percent decrease in job seekers’ interest in manufacturing roles, resulting in a 40 percent talent mismatch in the sector. This indicates a challenge in aligning the skills of job seekers with the industry’s demands.
An interesting insight from the Indeed Hiring Tracker (FYQ2) pertains to moonlighting, the act of taking on a ‘side gig’ alongside one’s primary job. Within the manufacturing sector, 79 percent of employers disapprove of moonlighting, citing concerns about it violating employment contracts and work ethics. For many blue-collar workers, this disapproval could mean a loss of additional income, potentially contributing to the decline in job applicants this year.
Sashi Kumar, Head - Sales, Indeed India, emphasized the need to address the talent mismatch. He stressed the importance of investing in upskilling to create a skilled talent pool capable of efficiently leveraging technology without leading to job losses. Advocating for upskilling and reskilling programs could bridge the gap between job seekers and employers, ultimately fostering a conducive environment for job creation.
Furthermore, a quarterly survey by the Federation of Indian Chambers of Commerce & Industry (FICCI), an Indian non-governmental trade association and advocacy group, in March 2023 displayed positive hiring sentiment in various manufacturing sectors, including capital goods, cement, electronics, petrochemicals and fertilizers, textiles, apparels, and technical textiles, underscoring the industry’s growth potential.
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