Retail is also growing, thanks to a larger middle class with increased purchasing power. “Medical tourism,” or India’s ability to provide ‘cost effective’ private medical care is a quickly growing field, at a rate of about 30 percent per year. This area is being promoted along with the tourism industry. The entertainment, publishing and media industry sectors have the fastest growing salaries, while the Indian textile sector is forecast to create almost 5 million jobs by 2010.
Sector wise Employment Growth rate of India Is following |
Sector |
Employment in 2004-05 (million) |
Projected Elasticity |
GDP Growth rate (%) |
Employment growth rate (%) |
Projected employment 2009 |
|
|
|
|
|
|
Agriculture, forestry & fishing |
267.57 |
0.7 |
3.73 |
2.61 |
296.62 |
Mining & quarrying |
2.74 |
0.82 |
4.73 |
3.88 |
3.19 |
Manufacturing |
53.51 |
0.34 |
10.9 |
3.71 |
61.9 |
Elect. Gas & water supply |
1.37 |
0.33 |
6.9 |
2..28 |
1.5 |
Construction |
25.61 |
0.88 |
12.07 |
10.62 |
38.35 |
Trade, hotels & restaurant Transport, storage and communication |
64.49 |
0.45 |
11.97 |
5.39 |
79.56 |
|
|
|
|
|
|
Financing, insurance, real estate & business services |
6.86 |
0.94 |
10.33 |
9.71 |
9.94 |
Community, social & personal services |
35.67 |
0.28 |
7.6 |
2.13 |
38.81 |
After considering this table we can see that the maximum Employment growth is in Construction and financing, insurance, real estate Sectors for last 5 years. |
