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Banks in India are not only strong but are also growing fast. According to studies, Finance & Banking sector is one of the fastest growing sectors in the country. This growth has brought many opportunities.
According to the Indian Banks’ Association Report, the presence of global players in the Indian financial system is likely to increase and simultaneously some of the Indian banks would become global players in the coming years. Allied to the Banking Industry, India’s financial services sector will enjoy generally strong growth during coming years, driven by rising personal incomes, corporate restructuring, financial sector liberalization and the growth of a more consumer-oriented, credit-oriented culture. This will lead to increasing demand for financial products, including consumer loans (especially for cars and homes). Large amount of savings are likely come to the capital markets through direct investments in equities or money flows through mutual funds as well as through insurance and pension products. Hence, there is a crying need for a large pool of New Age professionals with a good understanding of the functioning of equities, commodities and derivatives.
The banks will require a large number of people trained not only for specific skills in the banking domain but more importantly in customer service skills, selling skill, banking application software skills and an infectious positive attitude. In short, a modern banking professional for the modern banking sector is the need of the hour.
India’s Insurance sector has come full circle from being an open competitive market to nationalization and back to a liberalized market again. With the recent changes in the regulatory guidelines, the industry is maturing. Many private sector insurance players have broken even and moved to profits. Powered by an economy which is slated to grow at 7% to 9% and the fact that India is under-penetrated in insurance, this industry is also expected to have a healthy growth of over 15% in the next 3 to 4 years. The industry will witness extensive action to reach to large untapped markets and launch innovative products thus paving way for more trained insurance manpower.
Real Estate/Property/Infrastructure :
The real estate sector in India has come a long way from being dominated by a handful of players in the 90s to an expanding base of developers, investors and global stakeholders buoyed by the growing construction industry in the country. The sector has been undergoing corporatization and professionalization and recognized as a key sector contributing to the economic development of the country.Key opportunities in the real estate market :
State governments and bodies like the Confederation of Real Estate Developers' Associations of India (CREDAI) are hoping to crack down on unlawful and potentially dangerous construction practices with new requirements and increased transparency. The interest shown in the country by IT and retail companies will help increase property values in city centers. Increased competition between these companies in India could also aid growth in demand for high quality property. For the most part supply is continuing to match demand, but not surpassing it, keeping rents at the optimum level.Key Risks to the Real Estate Market :
Fears remain over major Indian companies' debt levels and whether interest rates will increase while they try to reduce them over the next year or so. The unstable market in the US and euro zone could cause international investors to reduce their activities in order to save capital. However, it is also possible these fears may drive investors into the Indian market. Raw material costs are high and increasing, which could slow construction and cause developers to reduce the number of projects they wish to invest in until levels stabilize.
FMCG sector will continue to see growth as it depends on an ever-increasing internal market for consumption, and demand for these goods remains more or less constant, irrespective of recession or inflation. Hence this sector will grow, though it may not be a smooth growth path, due to the present world-wide economic slowdown, rising inflation and fall of the rupee. This sector will see good growth in the long run and hiring will continue to remain robust.
The consumer durables market is divided into two segments – consumer electronics, also known as the brown goods (television, digital camera, audio-video systems, computers, electronic accessories, etc) and consumer appliances or the white goods (air conditioners, refrigerators, microwave ovens, other household appliances, etc.).
In its initial years, the sector relied on media and advertising for consumer penetration. Liberalization of markets in late 1990s saw the entry of global players like Samsung and LG and a shift in focus towards product innovation. Accessibility to high-end products was, however, low till mid 2000s. Last few years has seen high end and aspirational products like air conditioners and High Definition TVs gain stronghold in the market.
The industry size for consumer durables stands at Rs 350 billion (as on March 2012). The sector rides and relies on the state of the country’s economy. With household incomes in top 20 cities across India expected to grow at 10 percent annually over the next eight years, and concepts of easy loans, equated monthly installment (EMI) charges, availability of credit, etc., become commonplace, the Indian consumer is likely to spend more on both utility and luxury consumer goods.
Heavy Engineering/ Automobile :
Automobile industry is one of the key drivers of economic growth of the nation. Since the de-licensing of the sector in 1991 and the subsequent opening up of 100 percent FDI through automatic route, Indian automobile sector has come a long way. Today, almost every global auto major has set up facilities in the country. The world standings for the Indian automobile sector, as per the Confederation of Indian Industry, are as follows:
- Largest three-wheeler market
- Second largest two-wheeler market
- Tenth largest passenger car market
- Fourth largest tractor market
- Fifth largest commercial vehicle market
- Fifth largest bus and truck segment
The auto sector reported a robust growth rate of 26 percent in the last two years (2010-2012). According to the Confederation of Indian Industry, auto sector currently employs 787, 7702 people, 58 percent of who are in the passenger car segment. However, there is an increasing demand for skilled professionals in the domain of effective service delivery, spares management and support functions. ITIs and Polytechnics provide 530,000 graduates every year, but there is an urgent need for updating courses to keep up with changing trends in technology, manufacturing, and processes.
However, Heavy engineering segment accounts for bulk of all engineering goods production in India and is responsible for producing high-value products like heavy electrical, heavy engineering and machine tools, and automotive parts. Due to the high capital investment it requires, this segment is dominated by bigger, organized market players. It provides products to almost every major end-user industry.
The education and training sector in India is standing at $600 billion and the private education segment alone is expected to cross $45 billion mark by 2015 from the present $35 billion, according to a research by Investor Relation Society. This sector is named as the major employment driver in India in the Indian Job Outlook Survey 2012. It is expected that employment opportunities will continue to grow in this sector for the next two decades.
Education and training sector is undergoing a sea change in the recent past with the focus shifted from public to private sector. Private sector is also actively involved in education and its role will become more poignant in days to come. The private sector's role in the higher education sector has been growing at a rapid pace over the last decade and needs to further expand at an accelerated rate.
The education market is now thriving on the back of the workforce proving itself equal to their counterparts elsewhere in the world in productivity. Given the predominantly young population, the education market is bound to accelerate rapidly. The higher education system in India has witnessed remarkable growth in the past few years. India is definitely ahead of other developed countries in the field of education and training.
Responsible for 7-8 percent of global cement production, India is the second largest cement market in the world, and also an exporter to 30 countries. The cement industry in India is divided into five geographical segments, wherein the North and South regions are the leading suppliers of cement.
According to the Cement Manufacturers Association (CMA), cement sales for May 2012 were registered at 16.26 million tonnes (MT), which signifies a 14 percent growth over the same period in 2011. Although India is one of the largest cement markets in the world, its per capita consumption is only around 170 kg, much lower than the global average consumption of about 430 kg thus requiring manpower not just to manage the production capacity but also to meet the need of the market, in terms of reaching the customers and other staff functions of the companies.
Growth potential of the chemicals sector is immense, considering the current low per-capita consumption in the country. It is one of the fastest growing domestic sectors, comprising of both small and large scale enterprises, and is currently in a state of restructuring and consolidation. This movement aims to achieve product innovation, branch building, improved technical services and marketing abilities to stand through global competition.
Oil/Power/ Metal :
Power is the one of the most vital inputs to the socio-economic development of the country. The projected growth of Indian economy largely depends upon the performance and growth of the power sector. As estimated, India needs to augment power production to 8 lakh mega watts from the current 1.6 lakh mega watts to sustain present economic growth in next 25 years. To fulfill targets of 20,000 MW of installed capacity under the National Solar Mission, the Indian solar energy industry will need an estimated 1 lakh people by 2022 across domains, profiles and levels.
As a result of the growing demand for steel for infrastructural works and real estate projects in developing countries, the steel industry is becoming more and more competitive with every passing day. Till the late eighties, the steel market used to be dominated by OECD (Organization for Economic Cooperation and Development) countries. But with the fast emergence of developing market in India; in this sector there has been a dramatic shift in market share. The rapidly expanding power sector tenders abundant opportunities for the qualified, talented, capable and young graduates and post graduates with diversified backgrounds like engineering, commerce, finance, accounts, human resource, law and logistics etc.
There has been huge increase in demand for skilled and trained manpower from these players. The profiles range from project head, engineering, procurement and construction (EPC) head, project directors, GM operations/project, senior manager projects, manager projects, purchase manager, solar engineer, assistant technical manager, assistant procurement manager to manager purchase, power planning manager, power resource management, manager operations.
Hospitality/Travel & Tourism :
The Hospitality Industry is a major service sector in the world economy. Indian Hospitality industry is projected to grow at a rate of 8.8 per cent during 2007-16, placing India as the second-fastest growing tourism market in the world. According to industry data, India is expected to double the number of branded hotel rooms from 100,000 now in just three years. Leading the pack is global hotel chains, which will add over 300 hotel properties (an estimated 55,000 rooms) in the country by 2013, as per data compiled by companies.
India has the potential to become the number one tourist destination in the world with the demand growing at 10.1 per cent per annum, the World Travel and Tourism Council (WTTC) has predicted. The WTO (World Travel Organisation) predicts that India will receive 25 million tourists by year 2015.
Travel and Tourism one of the world’s largest foreign exchange earner among industries, provides employment directly to millions of people worldwide and indirectly through many associated service industries. Career opportunities exist both in the public and private sector. In the public sector, there are opportunities in the Directorates and Departments of Tourism of the center and the state as Officers, information assistants, Tourist guides etc. Another good prospectus for qualified tourism professionals are in the private sector with travel agencies, tour operators, airlines, hotels, transport and cargo companies etc. The opening up of the skies to private airlines and their emerging tie-ups with foreign airlines has removed bottlenecks in the transport and communication network resulting in easy flow of domestic and foreign tourists in the country.
Despite the global recession, inflation, terrorism and other factors, the overall outlook for the Indian hospitality market is optimistic and will remain so says HVS India remains the second fastest growing economy in the world and the economic growth of the country is at 7.1% of the GDP. The WTO (World Travel Organisation) predicts that India will receive 25 million tourists by year 2015.
The Media & Entertainment Industry in India is expected to reach Rs 1,457 billion by 2016 as per the FICCI-KPMG report. The industry achieved a growth of 12% in 2011 and is projected to grow at a CAGR of 15 percent over the next five years. The spending on leisure and entertainment are greater than the economic growth; this is a result of favorable demographics and increasing disposable incomes.
Many aspire to join this industry due to the high visibility and glamour associated with many of the top jobs. The opportunities are many and varied, such as in the areas of mass communication, content development, animation, production and event management. Telecom Industry in India is out of its nascent stage and the government together with the private sector initiatives is on the path of making India the electronics manufacturing hub of the world. 10 years ago subscribers were made to pay for an incoming call; today they have the liberty to pay for per second of their usage. According to analysts, the sector would generate employment opportunities for about 10 million people – direct employment for 2.8 million people and indirect employment for about 7 million by next year.
Pharmaceuticals and healthcare are expected to witness robust hiring and salary hikes in the range of 10-15% in year 2012. India will see the largest number of merger and acquisitions (M&As) in the pharmaceutical and healthcare sector in the coming years, according to consulting firm Grant Thornton. The Indian healthcare industry is showing a strong upward trajectory and the sector is expected to touch US $ 238.76 billion by 2020. The healthcare industry in India has witnessed a remarkable growth of 12% per year, since 2008. This growth has been fuelled by increase in the average life expectancy and average income levels, as well as rising awareness about health insurance among consumers. The Indian pharmaceutical market is expected to touch US $ 74 billion in sales by 2020 from US $ 11 billion in 2012. The pharmaceutical market has grown at 15.7% during 2011, with major growth drivers being in the area of anti-diabetics, derma and vitamins. India has a vast pool of trained pharmaceutical scientists, doctors and researchers, so joint collaborative research for new drug discoveries along with joint intellectual property rights are new areas being pursued.
Retail industry, being the fifth largest in the world, is one of the sunrise sectors with huge growth potential and accounts for 14-15% of the country’s GDP. Comprising of organized and unorganized sectors, Indian retail industry is one of the fastest growing industries in India, especially over the last few years. Most of the job requirements are in organized retail. According to the Global Retail Development Index 2012, India ranks fifth among the top 30 emerging markets for retail. The recent announcement by the Indian government with Foreign Direct Investment (FDI) in retail, especially allowing 100% FDI in single brands and multi-brand FDI has created positive sentiments in the retail sector. Retail industry, being the fifth largest in the world, is one of the sunrise sectors with huge growth potential and accounts for 14-15% of the country’s GDP. Comprising of organized and unorganized sectors, Indian retail industry is one of the fastest growing industries in India, especially over the last few years. According to the Global Retail Development Index 2012, India ranks fifth among the top 30 emerging markets for retail. The recent announcement by the Indian government with Foreign Direct Investment (FDI) in retail, especially allowing 100% FDI in single brands and multi-brand FDI has created positive sentiments in the retail sector.
Apparel Retail :
Everybody understands the impact of fashion and textiles on the environment. Almost $19.5 billion were spent on online apparel shopping in the year 2009 and increasing since then.
Fashion & Lifestyle Retail :
In India the vast middle class and its almost untapped retail industry are the key attractive forces for global retail giants wanting to enter into newer markets, which in turn will help the retail to grow faster.
Food & Beverage Retail :
Backed by huge potential and changing lifestyles, the food and beverage retail market is growing at a robust 30-35 per cent per year.
Pharmaceutical Retail :
Driven by therapies like anti-diabetic, vitamin, anti-infective and dermatology, it accounted for a robust 15% growth in 2011. E-commerce or E-tailing – the next big revolution: With the advent of e-commerce in the retail industry, retail stores are facing stiff competition from e-stores. The rising demand for e-shopping has lead to a new debate cropping up in the world.
NGOs/ Government :
On the flip side, the scope of work of the voluntary sector has also enlarged to include more technical work, thus calling for absorption of technical graduates. But he also points to one niggling factor in the trend: Those NGOs that are in a position to afford competitive remuneration to MBAs do hire their services and it is also true that NGOs are hiring MBAs to inculcate professionalism as it exists in the corporate sector. The recruitment patterns of the voluntary sector have seen a perceptible change in its workforce profile, with more engineering and management graduates opting to work in this sector.
A number of professionals are also on sabbaticals for pro bono work. Even medium-sized companies now want to have a hand in social development, it could be through an employees' association, helping charity, or starting a school, or hospital or an extension agency for farmers. Remuneration is one area that needs a lot of bolstering in the NGO sector, but there are some who have started giving "good salary to professionals, though not on par with corporate sector.
Seeds/Agro /Biotechnology :
The agro industry is regarded as an extended arm of agriculture. The development of the agro industry can help stabilize and make agriculture more lucrative and create employment opportunities both at the production and marketing stages. The broad-based development of the agro-products industry will improve both the social and physical infrastructure of India. Since it would cause diversification and commercialization of agriculture, it will thus enhance the incomes of farmers and create food surpluses. The agro-industry mainly comprises of the post-harvest activities of processing and preserving agricultural products for intermediate or final consumption. It is a well-recognized fact across the world, particularly in the context of industrial development that the importance of agro-industries is relative to agriculture increases as economies develop. It should be emphasized that ‘food’ is not just produce. Food also encompasses a wide variety of processed products. It is in this sense that the agro-industry is an important and vital part of the manufacturing sector in developing countries and the means for building industrial capacities. The Indian seed industry used to be dominated by public sector seed companies. However, following the easing of government regulations and the implementation of a new seed policy in 1988, the private sector seed companies have started playing a major role in seed development and marketing. More recently, the government’s decision to embrace biotechnology as a means of achieving food security has attracted several leading biotechnology-focused multinational seed companies to India. The composition of the seed industry, by volume of turnover, has reportedly reached a ratio of 60:40 between the private and public sectors. The private sector has started to play a significant role in the seed industry over the last few years. At present, the number of companies engaged in seed production or seed trade is of the order of 400 or 500. However, the main focus of private seed companies has been on the high value low volume seeds and market for low value high volume seeds of cereals, pulses and oilseeds is still dominated by the public sector seed corporations. Private sector companies have a significant place mainly in the case of maize and sunflower and cotton. However, in the case of vegetable seeds and planting materials of horticultural crops, the private sector is the dominant player.