44% Indian businesses expect rise in job opportunities

Despite the global economic downturn and news of job lay-offs hogging the headlines, 44 per cent of businesses in India are expecting an increase in job opportunities in the next one year, according to a Grant Thornton research report.

However, employees at nearly one-fifth of privately held businesses, globally, could see no salary increases in the year ahead, the report said.

"About 44 per cent businesses in India expect an increase in employment opportunities in the ensuing 12-months, while 16 per cent believe that employment opportunities would decrease and the rest (40 per cent) expect it to remain unchanged," the Grant Thornton International Business Report said.

Twenty-one per cent of businesses plan to offer no pay raise in 2009, while 3 per cent actually expect to reduce pay. Only 10 per cent of businesses expect to increase pay above the rate of inflation, the report said.

"Perhaps more worrying for employees is that a significant number of privately-held businesses (60 per cent) in India intend to increase salaries of their staff only in line with inflation," Grant Thornton India National Markets Leader Monish Chatrath said.