When there is severe strain on the economies of many countries- particularly those in the West, it is gratifying to see that the Indian economy continues to be strong- relatively.
An index of the strength of the economy is the number of jobs created and the amount of hiring that takes place. Good news comes to followers of the Indian economy in the results of a world wide survey by an international recruiting firm, Antal. The survey covered 7397 companies in over 30 key countries. It found that the number of Indian companies hiring professionals and managers has shot up to 51 % from a low of 29 % at the start of 2009.
The survey showed that globally too there was an improvement in hiring with 50 % of the companies planning to hire as against 46 % in April 2009.
India’s advantage in a young workforce has not been fully exploited. I recall a report saying that as much as 70 % of India’s workforce is under the age of 30. This presents tremendous potential- provided they are equipped with the requisite skills to perform.