Infra sector to bring employment by 2018-end
The Indian flexi staffing market size is witnessing significant growth and sectors like BFSI, e-commerce, retail and infrastructure together are likely to add more than 1 million jobs by end of this year. The Indian staffing market size is estimated to be valued at EUR 3.6 billion, as per a recent global staffing report.
Infrastructure ranks among the top 15 sectors that employ 81 per cent of formal sector workforce. Whole BFSI contributes 12 per cent, infrastructure, construction and energy contributes 11 per cent, retail and e-commerce together comprises 5 per cent in the national flexi staff.
The country is suffering from acute low levels of productivity at workplace that emanates from the real crisis i.e., lack of skills. EPFO data suggests formalisation of workforce is necessary rather than being skeptical about the same. According to one of ISF’s report, the organised retail sector will create 12,62,120 jobs, construction and real estate will create 1,37,280 jobs, BFSI will create 52,500 jobs while automobile sector to add 43,060 jobs by 2021