Last Updated : 10 March 2010 at 16:40 IST

Jewellers see hope as jobs are back in India

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By Geena Paul
NEW DELHI (Commodity Online): Finally, the Indian job market is looking up, giving hope for the jewellery and diamond markets in the country.

Even as the organised sector in India is set to create close to a million new jobs in 2010-2011, the jewellery and diamond market is also gearing up to cash in on the boom.

Whenever there are more jobs in India, the sale of jewellery and diamonds go up because of the rise in disposable income in India’s middle class families. Knowing this fact, jewellers are lining up new models and better choices for the customers now.

According to a jeweller in Chennai, the Ma Foi Employment Trends Survey predicted a huge rise in job opportunities in India which will help all consumer goods business.

The survey said while the overall picture looks bright for the year with million new jobs up for grabs, hiring intentions of employers are not really loud and clear in the immediate future. Most of them are cautious for the next four months but optimistic about the new fiscal year.

As for cities, the focus is on smaller cities like Ahmedabad and Pune. Among the metros, Chennai is leading, followed by Bangalore and Kolkata. And while Hyderabad is down to the political controversies, Mumbai and Delhi are yet to recover fully from the impact of the slowdown.

The survey was conducted earlier this year among 1,000 companies across 11 industry segments in India — banking, financial services and insurance (BFSI), education, energy, health, hospitality & travel, IT, ITeS, real estate & construction, trade, transport and manufacturing. The survey asked these companies on their hiring plans over the next 3 months and over the next year.

Healthcare is on top of the list expecting to generate 2,95,000 jobs followed by the hospitality sector (1,37,000). There is going to be a lot of growth in the budget hotel sector.

Real estate follows closely at 1,36,000 new jobs. From unskilled site workers to highly skilled talent like engineers, foremen, crane operators, project managers and architects, this sector is expected to explode with new jobs.

And the education industry will generate 83,000 jobs. India has the largest student population in the world with 13.5 crore children in primary schools. The country faces a shortage of at least two lakh schools.