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Jobs in Vijayawada

The Indian economy, poised to grow at a compound annual growth rate (CAGR) of 7.3% in the FY 2018, is backed by strong democracy and a great influx of foreign direct investments. It is also projected to grow at 7.5% in the next 3 years and is going to be the fastest growing economy in the world, as backed by a recent report by the World Bank. The strong growth rate mirrors firm foreign investments, a continued confidence of the investors and a robust private consumption scenario. As compared to this, the rest of the countries in South Asia are expected to grow at a rate of 5.6%.

This growth rate is impressive, to say the least, and reflects that the Indian economy has performed well despite the recent interruptions caused by the implementation of Goods and Services Tax (GST) and Demonetisation. The country has, since then, moved past such events and adapted to the new changes quite well. Consequently, the investment rate is also projected to trickle down into FY 2018 and 2019 to gain further momentum.  It can be deduced that India is witnessing a robust service and manufacturing output as well as industrial production. As a result of which, the country is expected to grow further in the next few years.

The industrial output increased by 5.20% in FY 2018 over the same time last year. Notwithstanding this growth, the Indian economy also thrives on its dynamic service sector – which is also its dominant sector. It accounts for 55.2% of the total value added to the GDP and is also responsible for capital formation as well. The sector, driven by skilled professionals, is always looking to hire the best available talent. As per REBR 2018, 79% of the Indian Inc. is also looking at increased hiring.

Salary continues to be the common denominator of employee retention and attraction strategies as well as organizational growth – which is reflected in the attractive compensation packages offered by companies across cities.

The national average CTC was recorded at INR 13.23 lac per annum, while businesses in Kolkata were reported offering the highest salaries for junior executives, Mumbai for mid-level and Bengaluru for senior-level professionals. FMCG has fared the best among all the industries by offering the highest average CTC of INR 11.27 lac per annum. The second spot has been taken up by the Energy sector offering an average CTC of INR 9.85 lac per annum.

The Telecom sector also provides lucrative packages offering average CTCs of INR 5.07 lac, INR 10.94 lac, and INR 30.67 lac per annum, to junior, mid-level, and senior-level professionals, respectively.

It is evident that there are plenty of jobs in the country including the tier 2 and tier 3 cities. To apply for jobs in Vijayawada, get in touch with Randstad, as we, help you get the job of your dreams.

Source: Randstad India Survey

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