Hiring lags investment as firms boost capex on automation, machinery

Sectors  that  account for around 70 per cent of the total factory employment showed a double-digit rise in additional investments, but single-digit hiring growth in FY24.

 

The 10 sectors in terms of factory employment showed a median 12.6 per cent increase in fixed capital, which includes plant and machinery, land and other long-term assets after depreciation; shows an analysis of data by organised manufacturing tracker Annual Survey of Industries (ASI) 2023-24. 

The growth in persons engaged in these industries grew at a median rate of 7.8 per cent, showed the numbers released August-end. The median is the middle of a