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Consumer Durables and Electronics Jobs

The Indian economy is poised to grow at a compound annual growth rate (CAGR) of 7.3% in the fiscal year of 2018 and at 7.5% in the next two succeeding ones. With this projected growth, as per a report by the World Bank, the Indian economy is likely to be the fastest growing economy in the world. The projected growth rate mirrors robust private consumption and firm foreign investments. As compared to this, the rest of the South Asian neighbours are expected to perform at a 5.6% growth rate.

Such an impressive growth rate reflects that the Indian economy has moved past its disruptions caused by Demonetisation and the implementation of Goods and Services Tax (GST) and it has, since then, improved significantly. The investment rate, consequently, is also expected to trickle into 2018 to gain a great momentum. As per this data, it can be added that India is witnessing a robust manufacturing output and industrial production – both of which will help the South Asian economy to grow, as a result.

Notwithstanding the growth in manufacturing and industrial output – which increased by 5.20% in April 2018 over the same time previous year – the Indian economy thrives on its service sector as well. The service sector of India is not called the most dominant sector for no reason. It still accounts for 55.2% of the total value added and is likely to lead the overall growth in capital formation as well. Therefore, the many investment banks, as per the Reserve Bank of India, are sure of private investments in India which will help give the economy the much needed boost – which had remained subdued in the last few years.

Driven by skilled professionals, the Indian service sector is always on the lookout for the best talent available in a large pool of resources. All organizations want to make a mark on the economy and employing the most skilled and talented employees give them just the boost they need.

Employee retention strategies, therefore, are at the core of many organizations in India. One of the major parts of recruitment and retention strategies in India is the recent salary trend – which is the main motivator for attracting and retaining talented employees.

Bengaluru has topped the Salary Trends Survey among all the metros with an average CTC of INR 14.64 lac per annum. Mumbai and Hyderabad have come close to the first position by offering an average CTC of INR 14.24 and INR 13.61 lac per annum respectively. These three cities are still the most lucrative locations for job seekers. These cities have fared better than the national average CTC, which, during the FY of 2016-2017, was recorded at INR 13.23 lac per annum.

Of all the five top sectors, the FMCG has fared the best by offering the highest average CTC of INR 11.27 lac per annum to professionals. This appealing figure is followed by the Energy & Utilities which offered an average CTC of INR 9.85 lac per annum. The third spot has been taken up by the IT sector, offering an average CTC of INR 9.27 lac per annum.

As it is evident, there are many jobs in India, including jobs in consumer durables and jobs in electronics as well. Such companies are always looking to hire the best talent. At Randstad, we believe in providing the right blend of tech and touch to put you ahead of the competition.

Source: Randstad India Survey

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