Ahmedabad also bounced back in the latter half of the year, recording strong growth in sectors such as oil and gas, construction/engineering and accounting/finance. The hiring outlook began to stabilize in Q2 2024 as industries adjusted. By the third quarter, hiring showed a strong uptick, driven by a resurgent IT sector, impressive growth in emerging cities and steady hiring of new hires. The report notes that metro cities such as Chennai, Hyderabad and Pune have led the recovery, with Pune in particular coming back strongly in the second half of the year as it recorded a 13 per cent growth in hiring during the third quarter. Is.
“As we look towards 2025, the outlook is optimistic. Companies are expected to continue to invest in AI/ML and digital transformation, while also focusing on experiential leadership,” the report stressed Is. In 2024, AI/ML fields shined, with growth rates of 14-47 percent over the year, reflecting the ongoing increase in demand for tech-driven talent. The FMCG sector also maintained positive growth rates across different quarters. The sector saw a flat trend in Q1 and peaked with 20 percent growth by Q3. Similarly, pharma/biotech also continued to thrive by taking advantage of the current needs in healthcare.
The banking and financial services sector witnessed modest growth over the year, while the insurance sector grew 37 per cent in the second quarter due to increased demand for financial protection after a sluggish first quarter. This momentum continued in the third quarter with growth of 23 percent. This surge is primarily due to increased demand for financial security, as companies and individuals focus on protecting themselves against uncertainty. The manufacturing sector has demonstrated steady progress overall, achieving an annual growth of 6 percent to 2024. According to the report, the second half of the year saw an increase in fresher hiring in non-IT sectors.
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