Trends in the Recruitment and Job Placement Market in India, October-December 2023

＜Market Overview in India＞

India's economy is expected to maintain strong growth, fueled by robust domestic consumption and significant government investment. The government is particularly focused on developing advanced industries such as semiconductors, electric vehicles, and renewable energy, with new policies supporting these sectors. Furthermore, Maruti Suzuki, dominating nearly 50% of the four-wheeled vehicle market, plans continued large-scale investments, including the construction of a new plant capable of producing 1 million units annually.

＜Local Hiring Trends among Companies in India＞

The anticipated growth of the four-wheeled vehicle sector is boosting recruitment activity across manufacturing, trading, and related industries. While hiring naturally slows towards the end of the year, it's expected to rebound from January onwards.

Given the high expectations for India's continued economic expansion, companies are actively hiring sales personnel for both local expansion and to capture market share from competitors. This has led to increased demand for Japanese nationals and Indian Japanese speakers. Additionally, to reduce labor costs, many companies with large expatriate workforces are shifting towards local hiring, further stimulating the recruitment market.

＜Job-Seeker Trends in India＞

Interest in overseas employment remains high among Indian job seekers. However, the number of candidates seeking these opportunities slowed down towards the end of the year, a trend consistent with previous years. We anticipate a rebound in job seeker activity from January onwards, mirroring the expected increase in company hiring.

Many candidates interested in India are simultaneously considering other overseas opportunities. Experienced professionals target India-specific roles based on their prior expertise, while younger candidates cast a wider net, prioritizing the overall experience they can gain. Due to this demand, we expect the job market to remain competitive, with top candidates likely receiving multiple offers.