71% employers expect hiring to increase because of PLI scheme

Most of the employers from small and medium-sized establishments anticipate a spike in hiring due to PLI schemes in the next two years

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We all know that production-linked incentive (PLI) is a scheme from the Indian government aimed at boosting the productivity of domestic manufacturing and industrial sectors. This boost is essential for employment generation as well as taxation and social welfare. A majority of the employers (71 per cent) across small- and medium-sized organisations foresee an increase in hiring as a result of the PLI scheme in the upcoming two years.

However, barely 22 per cent of the large organisations believe hiring will increase in the next two years because of PLI. About 53 per cent of the large organisations do not expect any increase in hiring at all.

While 51 per cent employers believe that PLI will have a significant effect on the growth of business, about 60 per cent each from pharmaceuticals and large-scale electronics manufacturing industry feel the same way. About 42 per cent employers believe that PLI will significantly affect employees’ learning and development (L&D), as per the Team Lease report.

In Indore, Chennai, Pune and Gurgaon, a relatively higher number of employers foresee more hiring due to PLI scheme —Indore (86 per cent); Chennai (73 per cent); Pune(65 per cent) and Gurgaon (65 per cent).

Kolkata, Chandigarh and Ahmedabad had relatively more employers not expecting more hiring.

More than one third of employers (37 per cent) from medium sized and slightly more than one fifth of employers (22 per cent) from large organisations expect more than a 20 per cent net incremental growth in employment in the next two years.

However, a significant 66 per cent of large organisations do not anticipate any net incremental growth in hiring in the next two years, as per the Team Lease report.

Merely three per cent of the employers surveyed feel there will be a net incremental growth of up to five per cent in the hiring of employees from the LGBTQ community.

About 33 per cent of the employers do not anticipate any net incremental growth in women’s employment, while 29 per cent do not foresee any net incremental growth in temporary staffing.

About 69 per cent employers think PLI will have a significant impact on employee productivity.

A whopping g84 per cent of employers from small-sized organisations and 77 per cent from medium- sized organisations (77%) believe that PLI-related benefits will enhance employees‘ productivity.

Over 59 per cent of all employers surveyed from large-sized organisations feel there will be no change in employee productivity in the next two years as a result of PLI scheme.

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