December 2024 capped the year with a 5% month-on-month (MoM) growth, and a 12% six-month increase in hiring activity. The hiring index reached 334, showcasing resilience and optimism in the job market. Recruitment surged by an impressive 31% year-on-year (YoY), setting the stage for skill-driven growth in 2025.
Key highlights
- Metro growth: Mumbai (+11% MoM, +23% YoY) and Bengaluru (+5% MoM) led hiring activity.
- Sector growth: Telecommunications saw a 25% quarterly increase, driven by 5G expansion.
- AI surge: AI hiring growth (+42% over two years) reflects the rapid adoption of AI-driven solutions across industries.
- Top functions: Medical roles (+44% YoY) and HR & Admin (+33% YoY, +3% MoM) recorded significant gains.
Industry performance in December 2024
Among the 27 industries tracked by FIT, 22 reported annual growth. Noteworthy performers include:
- Manufacturing (+57% YoY, +11% MoM): Boosted by Industry 4.0 and increased industrial output.
- Consumer Electronics (+60% YoY, +7% MoM): Sustained by demand for advanced technology products.
- Telecommunications (+38% YoY, +5% MoM): Led by 5G rollout and investments.
- Healthcare & Pharmaceuticals (+25% YoY): Accelerated by telemedicine and AI-powered diagnostics.
Functional and regional trends
- Medical roles (+44% YoY): Demand surged for telemedicine and diagnostics professionals.
- IT (+17% YoY): Dominated by roles in AI, cloud computing, and cybersecurity.
- Regional leaders: Mumbai (+11% MoM, +23% YoY) and Coimbatore (+58% YoY, +2% MoM) stood out.
AI: A game-changer for 2025
AI is set to redefine India’s workforce in 2025, with 253,000 AI-related jobs recorded in 2024, marking a 42% growth over two years. The foundit Insights Tracker (FIT) forecasts a further 14% increase in AI hiring in 2025, solidifying its role as a transformative force across industries.
Key AI trends
- Top industries: IT (35%), BFSI (11%), Healthcare (8%), and Retail (8%) lead AI job creation.
- Skills in demand: Python (53%), AI/ML (32%), Data Science (18%), PyTorch (16%), and TensorFlow (15%) dominate.
- Geographic hubs: Bengaluru (26%), Pune (17%), and Delhi/NCR (14%) remain hotspots, while Tier-2 cities like Coimbatore are emerging as key players.
- Applications: AI-driven solutions in automation, predictive analytics, and Industry 4.0 technologies are driving growth.
About the foundit Insights Tracker
The foundit Insights Tracker (FIT) offers a comprehensive analysis of hiring trends across industries, functions, and geographies. By tracking millions of job postings, it provides actionable insights for businesses and professionals navigating a dynamic job market.
For more information, contact pr@foundit.ai
