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India is the preferred destination for Outsourcing and Offshoring (O&O) services. O&O capabilities evolved because of advancements in information technology, which led local markets all over the world to converge to become one global marketplace. Owing to these transformations, there have been significant displacements in workforce requirements at all sites.
With sound fundamentals and tremendous scope for growth, India has one of the most developed Financial markets in the developing world. The sector comprises of commercial banks, insurance companies, NBFCs, pension & mutual funds, and other smaller Financial entities. The banking regulator has allowed new entities such as payments banks to be created recently thereby adding to the types of entities operating in the sector.
The Indian Retail Industry is one of the fastest growing sectors – domestically as well as internationally. With an increase in disposable incomes and affordability for consumers, the sector is experiencing incremental growth. With the further easing of regulations governing FDI in India, investments by multinationals are on a continuous rise. Organised Retailing is manpower intensive and is the second largest employer in India.
Healthcare in India is continuously on a rise owing to greater awareness and better affordability. India has also become a favoured destination for medical tourism globally as it offers specialised services at very affordable cost by major hospitals housing specialist facilities for treatment for all diseases under one roof. The private sector are growing multifold to complement the government’s expenditure, which remains largely subsidised.
The Indian Telecom industry is in a phase of consolidation after witnessing tremendous growth over the past few decades. However, the Telecom sector is likely to create few lakh new jobs on the back of technological advancements, deeper penetration of smartphones, and entry of new players in the segment. These crucial set of leaders will be instrumental in determining the market capitalization and share of individual operators in the industry.
The Oil and Gas sector in India has been a witness to global fluctuation in the price and volume of petroleum products that saw prices plunging to the lowest from the highest within a decade. The Oil and Gas sector in India is a significant influencer in the major decision-making process for all other sectors in the economy. As the demand for energy keeps rising globally, the demand for skilled manpower to steer the industry keeps rising exponentially.