Blitz Bureau
EMERGING cities like Indore, Udaipur, Bhubaneshwar and Jaipur have seen impressive job growth this year, with Udaipur leading with 17 per cent overall growth and Indore up by 14 per cent, a report has showed.
Other emerging cities like Jaipur and Ahmedabad are also driving India’s job market, with double-digit growth in sectors like IT, oil and gas and construction, according to the report by Naukri.com. Jaipur emerged as one of the emerging tech hubs, registering 48 per cent growth in IT sector hiring during Q3.
Ahmedabad also bounced back during the latter half of the year, posting tremendous growth in sectors like oil and gas, construction/engineering and accounting/finance.
The hiring landscape began to stabilise in Q2 2024, as industries adjusted. By the third quarter, hiring showed a strong rebound, driven by a resurgent IT sector, emerging cities posting impressive growth, and fresher hiring stabilising. Metro cities like Chennai, Hyderabad, and Pune led the charge in recovery, with Pune especially bouncing back strong in the second half of the year, as it recorded a 13 per cent growth in hiring during Q3, the report mentioned.
“As we look ahead to 2025, the outlook is optimistic. Companies are expected to keep investing in AI/ML and digital transformation, while also focusing on experienced leadership,” the report stressed.
In 2024, the AI/ML sectors shined, with growth rates ranging from 14-47 per cent during the year, highlighting the ongoing surge in demand for tech-driven talent.
The FMCG sector followed suit, maintaining a positive growth rate through the different quarters. The sector witnessed a flattish trend in Q1 and went on to peak at 20 per cent growth by Q3. Similarly, pharma/biotech continued to thrive, benefiting from ongoing healthcare needs.
While the banking and financial services sector saw a modest growth through the year, the insurance sector surged in Q2 with a 37 per cent growth, driven by rising demand for financial security, after a subdued Q1.
This momentum continued into Q3 with 23 per cent growth. The spike is largely attributed to a rising demand for financial security, as companies and individuals focused on protecting themselves against uncertainty.
