India's Growing Economy Means More Work for Recruitment Agencies
The World Bank’s ‘Global Economic Perspectives’ report that was published on 7 January 2016 reported that India will be a bright spot amid a gloomy outlook for developing countries in the next two years. The report further stated that India is “well positioned to withstand near-term headwinds and volatility in global financial markets” compared with other major emerging economies and predicts it will grow at a rate of 7.9% by 2018. That would make it the fastest-growing developing-country economy by some margin, ahead of the next quickest, Bangladesh, at 6.8% and China at 6.5%.
Prior to this prediction analysis, Harvard University economists had projected that India would have an annual growth rate of 7% through to 2024, the fastest of any major economy. Similarly, Finance Minister Mr. Arun Jaitley had earlier stated that the government is aiming at 9% GDP growth this year.
"India’s growth is expected to strengthen from 7.3 percent this year and last year to 7.5 percent next year. Growth will benefit from recent policy reforms, a consequent pickup in investment, and lower commodity prices," the IMF said in its latest World Economic Outlook.
Citigroup in their research note said that they expect real GDP growth to inch up to 7.7 percent in FY17 from 7.5 percent in FY16. They further stated that India is likely to remain an attractive destination for investors given its relative macro outperformance.
In its latest report, PwC said “Among the seven emerging economies (China, India, Brazil, Mexico, Russia, Indonesia and Turkey), India will be a ‘star performer’, while the Brazilian and Russian economies will contract and China will slow down.”
This positive business environment is bound to have an impact on the job market which is already gaining momentum. According to the 18th Antal Global Snapshot, almost 88% of companies in India are rolling out hiring plans for the New Year, with plans to increase their work force. An increase in jobs in India means an increase in opportunity. For aspiring entrepreneurs, India presents a unique opportunity to take advantage of a positive business environment.
In an article penned by Minister for Finance Mr. Arun Jaitley, for Mint, he said on a very positive note “We don’t want India’s economy to be walled in on all sides, or our windows to be shuttered. We want the winds of external learning and experience, foreign capital, technology and entrepreneurship to blow around the Indian house.”
That is exactly what Antal International is all about: Antal brings a whole lot of learning, experience and technology into the Indian recruitment market, allowing aspiring entrepreneurs to launch a business that lets them use their professional experience to build a successful recruitment business. If you are an aspiring entrepreneur looking for an opportunity that will allow you to utilise your professional background, then Antal International is that platform. We are now giving a one-of-its-kind opportunity to meet, greet, interact and be part of us at our Antal India Conference, March 2016 at Goa. We are giving this exclusive opportunity to select aspiring entrepreneurs who we think are the best fit for a global recruitment business like ours, and have commercial business acumen to run a successful business.
Find out more about going to the conference in Goa by filling in the form below.