Which Indian firms are hiring the best?
India’s economy is slowly but surely on the mend after a severe downturn that hurt productivity and consumer spending.
But for some, the recovery is still a long way from full recovery.
In a recent survey, the McKinsey Global Institute found that the Indian tech industry is growing at about 1.5% a year and is inching toward the target of 3% growth in the next five years.
But for many other Indian startups, the pace of growth is slower than they anticipated, leaving them to compete against foreign talent in India.
According to data from McKinsey, there are approximately 3,500 startups operating in India, with the country expected to grow to 5 million jobs by 2020.
The growth is expected to be driven by the country’s growing IT sector and the emergence of homegrown startups, which is also contributing to growth.
According to McKinsey’s projections, the Indian economy will grow at about 6.5%.
But some of the companies listed on the company portal McKinsey India are not only struggling to make it to the top of the pile.
For instance, a group of Indian startups has been listed on McKinsey with only 1% growth.
One of them is an online community that helps people find and connect with local tech talent.
Another is a company that helps local entrepreneurs and investors create their own apps.
The group is one of the startups that were chosen by McKinsey to receive the McKinseys Innovation award, which recognizes companies that are making a positive impact on the world.
The list of the winners is also worth noting: a tech startup that helps businesses create and share maps on the cloud; a tech company that has partnered with the government to launch an e-wallet and digital health platform; and a startup that makes software that helps developers to optimize their apps for the mobile and IoT space.
As the Indian IT industry continues to recover from the severe downturn, there is also some talk about a more robust business climate that will help the country continue to expand.
In India, the IT sector is the second largest employer, after the government, accounting for about 28% of the total workforce.
The country’s manufacturing sector accounts for about 15% of this sector.
But the IT industry has not been as resilient as it was in the past.
According a McKinsey report, IT productivity fell by 11.3% in the last year, and India’s unemployment rate has hit an all-time high of 17.6%.
India’s government is working to boost the country to a higher economic growth rate by 2020, with its plans to focus on infrastructure, education, health and other sectors.
For the time being, McKinsey expects that India’s IT industry will continue to grow, but the country will need to get much more creative in how it creates jobs and how to help startups succeed in the sector.