This was a week where most sectors showed imminent signs of a dry spell in hiring. The banking and financial sector has shown a continuous dip in hiring in the past three months. Pharma, Oil & Gas and Telecom are also some of the noteworthy ones that have taken remarkable dips in hiring. All in all, the hiring landscape in the economy is showing imminent signs of gloom. However, it is expected that hiring will likely pick up in the coming months across all industries as the economy strengthens.
The entrepreneurship sector, however, has seen encouraging activity, mostly backed by the government. A Kochi-based startup, with the help of Kerala government, has won a contract for finding new markets for traditional weavers in Kerala. There are also plans by other state governments to boost entrepreneurship in respective states.
On the skilling landscape, companies especially the service sector companies are tying up with universities to obtain a steady pool of talent, thereby indicating that the gloom on campus recruiting may finally be over. Across the last several months, report have been coming in from campuses about how placements have taken a dip. On another encouraging note, a Delhi Technological University, student has won a record salary after getting placed by the global giant Google. Himanshu Jindal, the student, has been awarded a salary of Rs 93 lakh after he joins the company. The IT industry, on the other hand, is looking at reskilling their existing staff to meet the new requirements of the future.
NSEL was in the news all week owing more pressure from the authorities to pay up their debts. A former NSEL CEO was reported quoting that former clients were to be blamed for the NSEL fiasco.
Overall, it was an eventful week where most of the headlines were driven by the imminent slowdown and its possible implications on the Indian economy.