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Corporate <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> reported the strongest <keyword id="6357342" type="General" weightage="100" keywordseo="hiring" source="Orion">hiring</keyword> sentiments globally for the next three months, with 37 per cent of employers planning to increase their staff strength as businesses are bullish about the country's economic position, a survey said on Tuesday. According to the ManpowerGroup <keyword id="6355127" type="General" weightage="20" keywordseo="employment" source="Orion">Employment</keyword> <keyword id="20206852" type="General" weightage="20" keywordseo="outlook" source="keywords">Outlook</keyword> Survey Q4, 2024, of nearly 3,150 employers across sectors and regions, the <keyword id="20449001" type="General" weightage="20" keywordseo="net-employment-outlook" source="keywords">Net Employment Outlook</keyword> in India is the strongest worldwide at 37 per cent, followed by Costa Rica (36 per cent) and the US (34 per cent) in the second and third place respectively. The Net Employment Outlook (NEO) is calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire. The India employment outlook for Q4 (October-December) stood at 37 per cent, up 7 per cent from Q3 2024, and unchanged when compared with the same time last year. "The hiring intention of employers signifies the positive outlook in the country's economic position that has been reinforced by exports as a result of multilateral foreign policies and large-scale infrastructure development. Coupled with this, is our demographic advantage that is expected to boost our competitiveness in the global market," said <keyword id="20933727" type="General" weightage="20" keywordseo="sandeep-gulati" source="keywords">Sandeep Gulati</keyword>, Managing Director, <keyword id="20841782" type="General" weightage="20" keywordseo="manpowergroup-india" source="keywords">ManpowerGroup India</keyword> and Middle East. According to the survey, employers across all sectors report net positive hiring intentions with the financial and real estate industry having the strongest outlook of 47 per cent, followed by information technology (46 per cent), industrials and materials (36 per cent) and consumer goods and services (35 per cent). The least optimistic prospects were witnessed in the communication services (28 per cent). The survey further noted that the Northern region of India continues to dominate the job demand with an outlook of 41 per cent followed by the West (39 per cent). Gulati further noted that "India is expected to focus on its high domestic consumption, economy-booster government schemes, increasing demand for outsourcing services and manufacturing boom. "With increased focus on skill development to meet market demands, India may be able to reduce unemployment and fasten the pace of economic development by creating a more capable and adaptable workforce that meets the needs of the emerging industries." Hiring managers across the Asia-Pacific countries anticipate the second strongest regional Outlook at 27 per cent, an increase of 4 per cent from the previous quarter but decreased when compared to the same time last year. India, Singapore, and China continue to report the strongest employment outlooks in the region. The most cautious employment outlooks were reported by employers in Hong Kong (8 per cent). Survey responses were collected from July 1-31, 2024, and 40,340 employers across 42 countries were asked about their fourth-quarter hiring intentions.

Indian employers most bullish globally on Oct-Dec quarter hiring: survey

Mumbai, The <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="261" meta.entityid="RBI">RBI</keyword> expects the price of the Indian basket of <keyword id="20023856" type="General" weightage="20" keywordseo="crude-oil-imports" source="keywords">crude oil imports</keyword> to be around $85 per barrel going ahead amid geopolitical tensions which have "imparted significant uncertainty" to the outlook. India exports around 85 per cent of its crude requirement, and soaring oil prices which have often crossed the $90 a barrel mark in recent years, tend to drag down the economy. The RBI's monetary policy report released on Friday states that international crude prices exhibited sizeable two-way movements in the second half of 2023-24, falling in October-December 2023 to around $75 per barrel on slowing global demand amidst weak manufacturing activity and easing demand for transportation fuels as well as supply increases from non-OPEC countries. However, amidst intensifying hostilities in the <keyword id="19904316" type="General" weightage="20" keywordseo="middle-east" source="keywords">Middle East</keyword>, deep output cuts by OPEC plus cartel, and incidents of supply outages, international crude prices moved higher from mid-December reaching an average close to $85 per barrel in March, the report points out. "The spread between global petroleum product prices and crude prices eased from its recent peaks in mid-2022 but remains elevated by historical standards in view of demand-supply refinery mismatches. Taking into account these factors, the baseline assumption for the crude price (Indian basket) is retained at $85 per barrel," the report states. Regarding the outlook for the rupee, the report states that the nominal exchange rate of the Indian currency saw two-way movements in the range of Rs 82.8-83.4 per US dollar in the second half of 2023-24. Taking into consideration the uncertainty around US dollar movements, the ebbs and flows of global capital flows and international crude oil prices, the baseline assumption for the exchange rate is revised to Rs 83 per US dollar. It also sees as a positive factor in the global growth forecast for 2024 being revised upwards by 20 bps to 3.1 per cent by the <keyword id="19916590" type="General" weightage="20" keywordseo="international-monetary-fund" source="keywords">International Monetary Fund</keyword> (IMF) in its January 2024 update of the <keyword id="20389978" type="General" weightage="20" keywordseo="world-economic-outlook" source="keywords">World Economic Outlook</keyword> (WEO) from its October 2023 projection. Global economic growth is expected to increase marginally to 3.2 per cent in 2025 and global trade growth (goods and services combined) is projected to accelerate from 0.4 per cent in 2023 to 3.3 per cent in 2024 and further to 3.6 per cent in 2025. However, the headwinds from protracted geopolitical tensions and increasing disruptions in trade routes pose risks to India's growth outlook, according to the report. Taking all these factors into consideration, India's real GDP growth for 2024-25, is projected at 7.0 per cent, with Q1 at 7.1 per cent; Q2 at 6.9 per cent; Q3 at 7.0 per cent; and Q4 also at 7.0 per cent. The risks are evenly balanced, the report adds.

RBI sees price of India's crude oil imports at $85 a barrel in FY25

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Indian employers most bullish globally on Oct-Dec quarter hiring: survey

PTI

RBI sees price of India's crude oil imports at $85 a barrel in FY25

IANS

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