According to a report, a significant percentage of employers anticipate employment to rise over the next two years as a result of Production Linked Incentive (PLI) schemes, which provide financial incentives to various industries to stimulate domestic production.
According to a TeamLease survey, the pharmaceutical sector (68%) is responsible for the highest favourable recruiting sentiment, which is then followed by the white goods sector (67%) and textile products (62%). For the next two years, 60% of firms anticipate more hiring as a result of PLI schemes.
The employers’ responses to job creation based on the government incentives outlined in the PLI schemes and their projections for hiring over the next two years formed the basis for the TeamLease PLI Outlook Report.
In India, 14 cities and 8 industries were surveyed, totaling 344 mid- to senior-level general managers and talent acquisition managers. The PLI schemes are ground-breaking. It will not only encourage investments and industry expansion, but it will also likely result in a major increase in job opportunities.
Sumit Sarabhai, Business Head – Emerging Vertical, TeamLease Services, stated that over 60% of employers in India Inc. had increased hiring plans as a result of the PLI scheme in the next years. The diversity of the workforce is a significant issue that the PLI schemes will address and is anticipated to increase the representation of women in leadership positions.
“According to our report, while cities like Gurgaon and Indore, Kolkata, Delhi and Nagpur still prefer hiring male candidates, cities like Chandigarh, and Chennai are more inclined towards female employees, especially across industries like textiles, pharmaceuticals, and large-scale electronics manufacturing,” Sarabhai said.
The MSME ecosystem will benefit from the PLI programmes, and more women will join the workforce, according to estimates. In addition, Sarabhai noted that other sectors, including large-scale electronic manufacturing, pharmaceuticals, and textile products, anticipate hiring female workers under the PLI programmes.