The Indian startup ecosystem saw a 37 per cent increase in the number of new companies in April, leading to a 14 per cent surge in the number of jobs, a report showed on Thursday.
Nearly 53 per cent of all startup jobs are directed towards freshers, according to a report by talent platform Foundit (formerly Monster APAC & ME). Overall hiring activity witnessed a 9 per cent monthly uptick and a 9 per cent yearly increase.
"Additionally, the production and manufacturing sector has witnessed a remarkable 31 per cent year-on-year surge in hiring," said Sekhar Garisa, CEO, foundit.
Steady Rise in IT Jobs
Startups in the IT (information technology) services sector noticed a steady increase in jobs, from 20 per cent to 23 per cent between April 2023 and April this year. In contrast, startups in the internet, BFSI/fintech, and media and entertainment industries witnessed a slight decline in hiring.
Meanwhile, startups in the education/e-learning/edtech industries reported stable growth in April, suggesting a period of stability within the industry, the report mentioned. Bengaluru, Delhi-NCR and Mumbai are leading as startup hubs.
"However, India's startup ecosystem is rapidly expanding beyond these metros, with non-metro locations increasingly emerging as entrepreneurial hubs," said the report. Jaipur leads the growth metrics with a whopping 24 per cent yearly increase in hiring, followed by Kolkata.
