The slowdown in the Indian economy, which has likely grown at its weakest pace in a decade, has taken a toll on employment opportunities in the country, according to a survey.
A total of 2.73 lakh jobs were created in the second half of fiscal 2012-13, a 14.1 per cent drop over the corresponding period last year, the survey found. The survey conducted by industry body Associated Chambers of Commerce and Industry of India (Assocham) said nearly 5.4 lakh new jobs were generated in 2012-13.
The information technology and business process outsourcing (BPO) sector generated 1.1 lakh new jobs during the October-March period, Assocham said, accounting for nearly 40 per cent of total jobs created during the period.
However, the IT sector recruited 5.3 per cent lesser employees over the same period last year reflecting the slowdown in the tech industry.
India's outsourcing industry is struggling amid the global economic slowdown. Indian outsourcers get nearly 60 per cent of their business from North America and Europe. IT majors such as Infosys and Wipro likely grew in single digits in the last fiscal affecting new job creation in the sector.
Insurance, financial services, banking, automobile and manufacturing sectors generate 10,000-12,000 new jobs in the six-month period. However, most of these sectors saw fewer opportunities in the last six months as compared to the same period in 2011-12.
Delhi and the National Capital Region (NCR) accounted for a majority of new jobs created in the second half of the fiscal year. Over 66,000 jobs were generated in Delhi/NCR during the six-month period followed by Bangalore (over 40,000 jobs), Mumbai (over 35,500 jobs), Chennai (almost 21,000 jobs) and Hyderabad (20930 jobs).
However, most of these cities registered negative growth for the six-month period, reflecting cautious corporate outlook.