The February month saw strong hiring in India’s energy market, supported by the ongoing strength in industrial sector. The HSBC Manufacturing PMI rose to 56.9 in February from 56.9 in January. The manufacturing PMI has been in the expansion zone for the past 32 months now.
As per Naukri JobSpeak Report, hiring activity in India’s Oil&Gas/Power/Infrastructure/Energy sector rose by a strong 21%, y-o-y and 11%, m-o-m basis during February 2024. There was strong demand for MEP Engineers, Electrical Engineers, and Factory Heads, across Ahmedabad, Delhi/NCR, and Mumbai regions. Meanwhile, hiring activity in the petrochemical sector also saw an increase of 1%, y-o-y and 2%, m-o-m. The strength in the energy sector came despite overall white collar hiring in the country being down by 8%, y-o-y, during the month.
Nevertheless, the overall hiring outlook for India is one of the brightest globally over the next few months and we remain optimistic that its positive repercussions will be felt on the energy sector as well.
