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Job Opportunities for Mechanical Engineers

India has emerged as the fastest growing economy in the world and is poised to become one of the main economic superpowers within the next 10-15 years. The country’s GDP grew by 8.2% in the second quarter of 2018 – which is the highest in the world. Furthermore, as per a report published by NASSCOM, India has the third largest base for startups in the world as it has over 4750 technology startups. The workforce of India is also expected to touch 170 million by the end of 2020, increased labour participation as well as better education enrolment. As per a data released by the RBI, India’s foreign reserved touched USD 400.49 billion in 2018. As it can be seen, there are many improvements in terms of the economic development of the country which has resulted in increased investments as well. Some of the most recent economic developments in India are as follows: 
  • Exports increased by 20.7% to touch USD 221.83 billion in 2018.

  • There is expansion in the manufacturing sector of the country because of increased foreign investments.

  • Income tax collection in the country reached USD 137.75 billion in 2018.

  • Indian companies have raised approximately USD 2.88 billion through Initial Public Offerings (IPOs) in 2018.

  • India’s foreign direct investment (FDI) inflows touched USD 389.60 billion from 2000 to 2018.

  • The maximum contribution of the FDI is from services, construction, telecommunication, automobiles, IT, and trading.

  • The overall Index of Industrial Production (IIP) rose by 5.4% in 2018.

  • In 2017 alone, 10.8 million new jobs were created.

  • As per a report published by the World Bank, overall private investments in the country is expected to increase by 8.8% in 2018-19, which is poised to overtake private consumption growth of 7.4%. This means that the country’s GDP will grow even further in the next few years.

An Array of Job Vacancies for Mechanical Engineers

As per these figures, plenty of new jobs are being created in every sector, and as such there are plenty of jobs opportunities for mechanical engineers. India Inc is also paying handsome salaries to skilled and semi-skilled professionals in various fields. For instance, skilled professionals are being offered an average CTC of INR 14.64 lac per annum in Bengaluru, while Mumbai pays an average CTC of INR 14.24 lac per annum. Among the highest paying cities, the third spot is taken by Hyderabad which offers an average CTC of INR 13.61 lac per annum to professionals. 

There are many job vacancies for mechanical engineers in India and to grab the best ones, get in touch with Randstad today and find your ideal job.

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