The National Capital Region is one of the highest growth parts of the country, everyone identifies with the fact. The direct consequence of this rapid growth shows on the employment market of this region which is all the while buzzing with new job opportunities. Here is a brief analysis of the market scenario of this region and the factors that contribute to it.
An ASSOCHAM study revealed that Delhi-NCR region has emerged as the leader in creating maximum opportunities in the entire 2013. Powered by effervescent IT, IT-enabled services (ITeS) and IT hardware sector, the region produced one-fourth share of the total number of jobs created across India. While the pan-India figure stood at 5.50 lakh, Delhi-NCR was responsible for creating 1.39 lakh of the lot. In addition, the region clocked in a significant year-on-year growth of 12 percent, the best figures for all metros in the entire nation.
Another reason why jobseekers can be optimistic about new job generation in the region is that office space leasing has increased more than three-fold to nearly 1.5 million square feet during the January –March period. This growth is owing to the higher absorption by new IT firms in Gurgaon. With new offices opening, it is only too obvious that there will be requirement of new employees, which will job hunters plenty of reasons to be busy this year also. As to why Delhi-NCR is such a hotspot, we have to take into account these factors:
The National Capital of India
Delhi being the national capital automatically acquires a special status amongst all cities of the country. It is the seat of the national government, houses the Supreme Court, and is home to all important public government offices. The political and economic activity of Delhi has its consequences throughout the country. The capital city of India has the entire basic and modern infrastructure necessary to support a comfortable living and earning. No wonder, Delhi is one of the most sought after destinations for people.
Plethora of Good Educational Institutions
The Delhi-NCR is the biggest education hub of the country. Whether it is India’s most famous university, (Delhi University) or world class engineering institutions like IIT or management institutions such as MDI (Gurgaon), NCR has it all and in abundance. With so much manpower talent readily available, it is natural for companies and businesses to make use of it. This is one reason why we find all the big names of the Indian and International corporate circle having their offices and headquarters in NCR.
Favorable Government Initiatives
The government of India has always been supportive towards making this region a better, more developed and modern hub. Whether it was the creation of the special National Capital Region which spurred the transformation of Noida, and Gurgaon or it was introducing various projects of national importance such Metro in Delhi and Noida, the government has always tried to create suitable environment for progressive development of this region.
This special attention has led companies to line up and establish their operation centers here. TCS, Wipro, HCL are just few of the names that have made Noida their home. These companies have given rise to a huge number of job opportunities in Noida, which attract residents from as far as Ghaziabad, Meerut, Gurgaon and Faridabad amongst others.
IT/ITeS Powering the Growth
IT and ITeS are the primary sectors driving the hiring in the region. Whether you are applying to a job in Delhi or Gurgaon, chances are high that such jobs will be belonging to either IT or ITeS industry. BPO is one of the major consumers of manpower here. Various international BPOs, consisting of names like Cognizant, Accenture, EXL Service, HCL Technologies BPO are constantly looking to hire candidates with excellent communication skills and good education credentials. These companies support a large section of jobseekers offering them good money for their efforts.
The Current Scenario
All market experts have predicted a robust employment rate in Delhi and NCR. With government promoting FDI and sectors like retail, construction and real estate growing, the employment index is expected to grow at least by 5% over the next year. The Naukri Job Speak Index for April 2014 estimated a growth rate of 11% in hiring activity across Delhi over the previous month, March -2014. All these figures are enough to suggest that Delhi-NCR is one of the safest bet for seeking out employment.