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In January 2024, the recruitment landscape in India experienced a notable surge in demand for artificial intelligence (AI)-related roles across diverse sectors such as hospitality, healthcare, and fast-moving consumer goods (FMCG). According to the Naukri JobSpeak Index, the white-collar hiring index in India reached 2,455 in January 2024, reflecting a 1% increase from the previous month while remaining 11% lower than the figures recorded in 2023.
Senior professionals and premium job seekers found themselves at the forefront of this burgeoning demand, with the highest appeal to recruiters. The AI job market saw a remarkable upswing, witnessing a 12% growth in January 2024 compared to the corresponding period in 2023.
Dr. Pawan Goyal, Chief Business Officer of Naukri.com, shed light on this significant shift, stating, “The notable increase in AI-related job opportunities signifies the evolving skill requirements within the IT sector. Concurrently, the positive hiring sentiment observed in healthcare, hospitality, and FMCG sectors is indicative of a robust domestic economy.”
The report further detailed the specific roles within the AI domain that experienced heightened demand. Niche positions like Machine Learning Engineer and Full Stack AI Scientist witnessed a substantial year-on-year growth of 46% and 23%, respectively. Conventional roles such as Data Scientist also found themselves in high demand during this period.
Interestingly, these trends presented a contrasting picture to the overall IT job market, which experienced a modest 1% growth in January 2024 compared to the preceding month. On a year-on-year basis, the overall hiring within the IT sector saw a 19% decrease compared to the flourishing conditions witnessed in January 2023.
In the healthcare sector, hiring saw a commendable 7% year-on-year increase in January, with a predominant demand for administrative roles. Similarly, the FMCG sector observed a 5% growth in new job offerings in January 2024 compared to the same period in 2023.
However, not all sectors experienced such positive trends. The BPO and Insurance sectors faced a decline in hiring, recording a 16% and 8% decrease, respectively. Additionally, the education and retail sectors saw a year-on-year contraction of 7% each.
In conclusion, the January 2024 employment landscape in India witnessed a dynamic shift with a surge in demand for AI-related roles, particularly in sectors like healthcare, hospitality, and FMCG. The increasing need for senior professionals and premium talent underscores the changing skill requirements in the IT sector. Despite a modest growth in overall IT jobs, the AI domain demonstrated resilience and growth, painting a positive outlook for the evolving job market in the country. As various sectors navigate through these changes, it remains crucial for professionals to align their skills with the evolving demands of the job market, ensuring continued success in their respective fields.
