India sees 33% increase in diversity employment, led by BFSI and IT

Diversity-focused hiring in India grew 33 percent year-on-year this month, with BFSI and IT-Software & Services sectors leading the charge, according to the latest foundit–Insights Tracker (fit) report for June 2024. The report highlights the growing importance of diversity and inclusion (D&I) initiatives.

According to the tracker, the overall employment rate rose from 295 in May 2024 to 302 in June 2024. On a year-on-year basis, there was a 12 percent increase in employment, indicating strong momentum in employment opportunities. Employment has seen a solid 15 percent increase in the last six months, reinforcing a positive outlook for 2024. These trends underscore the dynamic and evolving nature of the Indian job market.

Commenting on the remarkable progress in diversity hiring in June 2024, Sekhar Garisa, CEO, foundit (formerly Monster APAC & ME), a Quess company, said, “The 33 per cent year-on-year increase in diversity hiring underscores the critical role that D&I policies play in shaping today’s workforce in India. We commend Indian companies for prioritizing inclusivity and achieving such significant growth. Looking ahead, we envision an even deeper focus on inclusivity through initiatives such as mentoring and leadership programs for underrepresented groups and bias training at all levels.”

“Companies can lead with innovative approaches like D&I labs or councils to deepen their inclusion efforts and reverse mentoring programs where young employees from diverse backgrounds mentor senior leaders. Through these initiatives, companies can build truly inclusive workplaces and set the stage for a vibrant and equitable workforce in India. We are proud to support this transformational evolution and are committed to helping employers create inclusive workplaces,” he added.

BFSI and IT-Software and Services industries are leading in employing people with diverse profiles

Over the past few years, Indian companies have been focusing on hiring candidates from diverse groups, including women, LGBTQIA+ people, and people with disabilities (PwD), underlining the importance of diversity and inclusion (D&I) policies in corporations. Despite some fluctuations, the overall trend remains positive, with significant peaks in Pride Month in June 2023 (37%) and May 2024 (57%), reflecting key diversity initiatives.

The sectors that saw the largest increase in diversity-related job vacancies were BFSI and IT-Software and Services (IT-ITeS), which accounted for 30% and 19% of all job vacancies, respectively.

In addition, companies are adopting structured D&I programs, such as anti-discrimination training, diverse interview panels, and targeted hiring, to encourage and recognize underrepresented groups. Job ads now use inclusive language, such as recording a candidate’s preferred pronouns, to avoid gender bias. Other industries that showed strong numbers of diverse representation included healthcare (6 percent), internet/e-commerce (4 percent), and education (3 percent).

Industry	% of jobs with different topics
BFSI	thirty%
IT – Software and services	19%
Healthcare	6%
Internet/E-commerce	4%
Education	3%

Metropolises like Bengaluru, Delhi-NCR, and Mumbai are leaders in diversity hiring, with a large number of positions dedicated to women, people with disabilities, and the LGBTQIA+ community. As part of the diversity hiring trend, there is also a focus on promoting women into leadership positions through mentoring and specialized training.

Other cities that offer significant job opportunities for marginalized communities include Pune, Hyderabad and Chennai. The data also reveals that 16 percent of remote work is for people with disabilities, showing the benefits of working for location-independent companies.

The prospects for diversity-led employment look bright – with an emphasis on diversity and inclusion policies, technological integration and regional expansion, we can expect to create a more inclusive and dynamic workforce in India.

Best locations for employment	% share of jobs
	Women	A disabled person	Diversity and Inclusion*
Bangalore	10%	8%	16%
Bombay	15%	15%	11%
Chennai	5%	4%	7%
Hyderabad	6%	3%	10%
Pune	19%	6%	16%
Delhi/NCR	14%	22%	9%
Remote	10%	16%	7%

*D&I: The PwD and Women categories refer to job roles that are specifically for people with disabilities and women. The D&I category now includes LGBTQIA+, women, PwD, and others.

The booming textile industry is driving continuous growth in the Indian manufacturing and production sector.

On a month-on-month basis, the textiles and apparel sector witnessed remarkable growth, with a 16 percent increase in employment, driven by technological advancements, sustainability initiatives, government support, and expanding domestic and export markets. Tier II cities like Surat saw an increase in demand for textile and apparel jobs. The growth in the textile and apparel sector also contributed to the growth of the Indian manufacturing and production industry. The sector’s remarkable 43 percent year-on-year employment growth was also driven by investments in the automotive and consumer electronics sectors. The increased demand is not only visible in the manufacturing sector, but also in related sectors like consumer electronics, which saw a 28 percent year-on-year increase in employment.

The construction and engineering sector also saw a 29 percent increase in employment over the past year, driven by sustainable development and green initiatives. On the other hand, the agriculture sector has been grappling with multiple employment challenges over the past year, with a significant decline of 18 percent in June 2023. However, recent months have shown signs of a gradual recovery, with the rate of decline slowing down since April 2024. Growth in organic farming and advanced agri-tech, along with e-farming applications, is responsible for this positive trend. Other sectors that have seen a downward trend in employment include shipping/marine (-31 percent), FMCG (-5 percent), and import/export (-15 percent).

New hotel and airport operations are driving job growth in the hospitality, marketing and communications industries.

With the introduction of new hotel and airport operations in India, the hospitality sector is gearing up to handle the growing influx of tourists. Hospitality jobs (36 percent) are in high demand, driven by the need for experienced leaders to manage hotel operations.

This demand is further bolstered by nearly 100 new hotels expected to open this fiscal year by leading hotel companies. In addition, there is significant demand for airport hospitality positions, driven by the development of new airports in tier 2 and tier 3 cities.

Other job roles that have shown positive hiring growth include marketing and communications, where the tracker indicated a 24 percent year-over-year increase and a 5 percent month-over-month increase from May 2024 to June 2024. Hiring in marketing and communications roles has increased due to the growing need for brands to establish a strong digital presence and engage with their audiences online.

The rise of social media, digital marketing, and content creation has created a need for skilled professionals who can effectively navigate these platforms. Digital marketing roles alone have seen a remarkable 28 percent growth over the past year, reflecting the industry’s shift toward online engagement and data-driven digital strategies.

Positions that showed a downward trend in hiring included Customer Service (-27 percent), Sales & Business Development (-6 percent), and Finance & Accounts (-5 percent). Positions with moderate to slight year-over-year growth included Engineering & Production and Creative, which saw (-2 percent) and (-1 percent) increases in hiring, respectively.

AI/ML Specialists, Digital Marketers, Data Scientists, Analysts Top India’s Most In-Demand Jobs

Given the rapid advancement in technology and the growing need for data-driven decision-making, roles such as AI/ML specialists, digital marketers, data scientists, and analysts are in high demand today.

The industries that have shown a penchant for hiring AI/ML specialists are IT-Software & Services, which has a 27% share of employment, and Internet, e-commerce, which has a 14% share of employment. Companies in these sectors are using AI/ML to increase efficiency and personalize customer experiences.

Top Industries Hiring in AI/ML	% Participation
IT Software, Programming Services	27%
Internet, E-commerce	14%
Education, teaching, training	11%
BFSI	10%
Strategy, Management Consulting Firms	3%

Meanwhile, the digital marketing landscape is expanding as companies seek to reach a wider audience online. This growth is being driven by the need for a competitive edge in a digital-first world. According to the tracker, the IT-Software & Services industry is the leader in hiring digital marketers, with 33 percent of positions. Advertising/PR/MR/Event Management is next, with 16 percent of positions dedicated to digital marketers.

Top Industries Hiring in Digital Marketing	% Participation
IT software and services	33%
Advertising, PR, MR, Event Management	16%
Recruitment, staffing	7%
Education, teaching, training	5%
BFSI	4%

Data scientists and analysts are in increasing demand, with the IT-Software and Services industry accounting for 27% of these roles. The rise of big data has made extracting actionable insights crucial.

Other sectors that are seeing a growing demand for data scientists include Advertising/PR/Event Management (8%) and BFSI (7%). The integration of advanced analytics and machine learning is transforming these industries, making skilled data scientists essential to maintaining a competitive edge.

Top Industries Hiring for Data Science and Analytics	% Participation
IT software and services	27%
Advertising, PR, MR, Event Management	8%
BFSI	7%
Internet, E-commerce	6%
Recruitment, staffing	6%

Bengaluru leads India in job growth with remarkable 24% increase in employment

Bengaluru has been witnessing a rise in employment, driven by the growth of the technology sector and the development of cities that are now expanding into tier-2 cities. Companies across India are tapping into the vast talent pool in smaller cities as they look to expand their workforce in tier-2 and tier-3. On a year-on-year basis, Coimbatore led the growth rates with a 23 per cent increase in employment, followed by Jaipur with a 21 per cent increase. Other cities showing strong growth include Delhi-NCR (18 per cent), Hyderabad (17 per cent) and Pune (12 per cent). On a month-on-month basis, Chandigarh maintained a stable employment environment with a 6 per cent increase. However, some cities like Baroda, Chennai and Kolkata saw a slight decline in employment, each by 1 per cent.

Employment of senior and mid-level specialists is showing moderate growth

According to the tracker, demand for specialists with more than 15 years of experience increased by 8 percent year-on-year. Meanwhile, mid- and senior-level specialists with 7-10 years of experience saw a 7 percent increase in employment month-on-month.