The experts are of the view that India is seemed to be third largest in the world within ten years. The 60% of Indian population depend on agriculture which accounted for 18.9%, whereas, the services rated 54.8% and industrial sector rated 26.3% GDP in fiscal year 2006-07.
The rapid growing software industry, entertainment, pharmaceuticals, healthcare, the creative industries and financial services is providing solid base to Indian economy and job opportunities to masses. Small business enterprises are prospecting jobs traditionally for non graduates. The formal graduate recruitment is being made in the multinationals which are increasing operations in India. Although, there was trend to ex-pat western managers in multinational, however, now the local staff is being appointed by most of the international companies.
The largest recruiting companies include IBM, Wipro, TCS, Tata Engineering, ITC, State bank of India, and Infosys which recruit 15,000 to 20,000 graduates every year, hence increasing the job opportunities in India.
The organizational culture in India is enormously diverse. Work ethics varies from sector to sector. In local private sector; the work culture is influenced by family life and religion. The public sector is highly bureaucratic whereas, international companies possess quite modern culture. The trend of on job trainings to workforce enhances capabilities and professionalism in the organization.
In the year 2006, average salaries in India were $8,000. However, initial salaries of the graduate from the top universities are more than that. Saturday is often working day in India except in multinationals. The official language of India is English.
Since India has many job opportunities, but still many people, approximately a fifth of population, live in poverty including constant unemployment. One reason of the poverty in India could be 90% of labor forces work without social security and other benefits.