After a period of slow down and jobs cuts, the Indian economy seems to be recovering at a very fast pace. This is evident from the huge number of jobs that the domestic market is expected to create by year-end. According to the global consultancy Ernst & Young, boosted by strong domestic economic recovery and improved global sentiment, most local industries in India are expected to increase their headcount in the coming months.

As per the most recent report released by Ernst &Young, India would witness a whopping number of 2.3 lakh jobs in the current quarter of 2010. These jobs would be created in six major sectors of the Indian economy including real estate, IT/ITes, banking and manufacturing, education and training, financial services and insurance and healthcare. So, there would be no job-crunch anymore! 

The Changing Trend 
Attributing this growth to a bullish recruitment drive in most of the public sector concerns, experts predict that hiring would be on an all time high in the closing months of the year 2010.  The banks would also adopt the same trend.  
 

Sector-wise Bifurcation
Healthcare sector:  Expected to generate 60,000 jobs  
Healthcare is one of the most important sectors in any country and India is no exception. A report released by Yes Bank in association with an industry body, which got published in November 2009, states that the healthcare sector is estimated to grow up by 23% annually for touching the 77 billion US dollars mark by 2012. Now, this would be a remarkable growth for the sector currently rests at mere 35 billion US dollars. Needless to mention, this expansion guarantees a vast potential and is soon going to become the most sought after one.      

Real estate sector: Expected to churn out 50,000 jobs  
The real estate sector was at its peak as it witnessed massive boom in the last few years till the global recession hit it adversely. However, this sector too like health care seems to be on an irreversible recovery path. IN 2009, a global non-profit education and research institute, namely Price water house Coopers (PwC) and Urban Land Institute, conducted a study that reveals, “India leads the pack of top real estate investment markets in Asia for 2010.” Furthermore, creation of an additional number of jobs would definitely result in a bright future for youngsters aiming this sector. 

IT/ITes sector: Expected to offer 50,000 jobs  
It goes without saying that this sector has played a very important role in placing India at a very affluent position on the global map. According to the annual report 2009-10, released by the Department of Information Technology (DIT), the total revenue from the sector would touch the $ 225 billion mark in 2020 – a generation of 50,000 jobs will thus help accomplish the dreams of young professionals eyeing the sector.   

The manufacturing sector:  Will come up with 20,000 jobs  
United Nations Industrial Development Organization abbreviated as UNIDO has ranked India in one of the top 10 countries in industrial production, in the world. In addition to this, an estimate premeditated by The Index of Industrial Production (IIP) reveals that the manufacturing sector observed a high growth of 19.4% as compared to last year. The sector thus is clearly slated for a bright future in the coming years with 20,000 jobs to be added in near future. 

BFSI: Will produce 20,000 jobs  
In this era of rapid growth, the banking and financial sector has witnessed massive growth over the last decade. To quote a UK-based Brand Finance PIC survey, “The State Bank of India (SBI) has become the first Indian bank to be ranked among the top 50 banks in the world, capturing the 36th rank.” Other financial services too have boomed over the period. With the Sensex crossing the 20,000 mark once again, the sector is looking forward to speedy recovery post the global crisis and 20,000 new jobs is a further indication of this revival. 

Education and training sector: Will open up 30,000 jobs  
Being one of the primary growth sectors, Education is considered to be the backbone of every economy. The sector at present is anticipated to be having a total worth of 40 million US dollars in India. In the present demography of India, with a majority of its population being the youth category, the sector is definitely going to witness a colossal augmentation in demand over the next few decades. The current estimate of 30,000 additional jobs also reflects the future growth prospects. 

Hence, the dark clouds of unemployment seem to be disappearing fast as opportunities are here to facilitate GROWTH.