India's Job Market Surges on AI, IT

India's white-collar job market experienced a significant 12% year-on-year growth in February, reaching its strongest performance in recent years, according to the Naukri JobSpeak Index. This surge was primarily driven by a recovery in the IT sector, which saw over 6% growth, and a substantial increase in Artificial intelligence (AI) and machine learning (ML) hiring, rising 40% within IT and 49% across all sectors. Indian multinational companies played a crucial role, leading the hiring surge in IT and outpacing foreign MNCs in AI/ML talent acquisition. Non-IT sectors like insurance, BPO/ITES, real estate, hospitality/travel, and retail also contributed to the overall hiring momentum. The report highlights a robust demand for both entry-level and high-value talent, with fresher hiring growing 17% and roles in the Rs 20 lakh-per-annum band increasing 23%. Pawan Goyal of Naukri.com noted the solid underlying momentum heading into the new fiscal year.