18 January 2024
JAC Group, which operates recruiting businesses in 11 countries around the world, has summarized the market trends for recruitment in India, where it has offices, from October to December 2023.
Number of job offers YOY：122%
Number of job openings YOY (past 3 years)：
| 2021 | 2022 | 2023 | |||||||||
| Jan - Mar | Apr - Jun | Jul - Sep | Oct - Dec | Jan - Mar | Apr - Jun | Jul - Sep | Oct - Dec | Jan - Mar | Apr - Jun | Jul - Sep | Oct - Dec |
| 110％ | 65％ | 214％ | 114％ | 71％ | 121％ | 111% | 107％ | 139％ | 109% | 101％ | 79％ |
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.
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.
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.
JAC Recruitment India Managing Director
Kazuo Komaki
■JAC Recruitment India Overview
https://www.jacgroup.com/en/locations/country/india
■JAC Recruitment India Website
https://www.jac-recruitment.in
【JAC Recruitment Asia: Job Listing Comparison Report (Previous Quarter and YOY)】
| Change from previous period (Jul.-Sep.) | Year-on-year comparison | |
| Singapore | 91% | 80% |
| Malaysia | 87% | 99% |
| Thailand | 79% | 130% |
| Indonesia | 117% | 94% |
| Vietnam | 91％ | 155％ |
| Korea | 60％ | 78％ |
| India | 79％ | 122％ |
| Japan（※） | 95% | 100% |
*Recruitment related to overseas business of Japanese companies
Note: The number of job openings at Asian companies may increase or decrease depending on the strategies intentionally adopted by the Asian companies (e.g., specializing in jobs with high annual salaries or jobs for specialists). Therefore, increases or decreases in the number of job openings at Asian companies do not directly reflect the performance of each company.
