There has been a 37 per cent increase in the number of new companies within the startup ecosystem, resulting in a 14 per cent increase in job opportunities, according to the foundit Insights Tracker. Of these jobs, 53 per cent is targeted at fresh graduates.

According to the tracker, the overall hiring index shifted from 276 in March 2024 to 300 in April 2024, with a 9 per cent increase in hiring compared to the previous year.

Sales position vacancies have rapidly increased over the past year, from 9 per cent in April 2023 to 23 per cent in April 2024. Product-related job roles also increased, from 8 per cent to 9 per cent. Meanwhile, IT, consulting, and marketing jobs were less in demand.

Startups in the internet, BFSI/fintech, and media and entertainment sectors witnessed a slight decrease in hiring while the education/e-learning/edTech industries reported stable growth.

Non-metro job creation

As per the tracker, India’s startup ecosystem is spreading beyond metropolitan areas to non-metro regions, yet Bengaluru, Delhi-NCR, and Mumbai remain prominent as startup hubs. The data also showed that most startups have shifted away from remote work, with the percentage of firms offering remote work decreasing from 8 per cent to 3 per cent.

Production and manufacturing sector (31 per cent), home appliances industry (27 per cent) and the healthcare industry (10 per cent) saw a year-on-year surge in hiring. Meanwhile, sectors such as agro-based industries (-22 per cent), shipping/marine (-19 per cent), FMCG (-6 per cent), printing/packaging (-7 per cent) saw a downtrend in hiring. 

Jobs in hospitality and travel industries saw a 23 per cent year-on-year increase in online hiring activity while marketing and communications saw a 12 per cent year-on-year increase. Customer service (-26 per cent), sales and business development (-12 per cent), and finance and accounts (-7 per cent) recorded a downtrend in hiring. 

The data also showed that companies across India are expanding their workforce in Tier-2 and Tier-3 cities. Jaipur led with a 24 per cent yearly increase in hiring, followed by Kolkata at 23 per cent, Delhi-NCR (12 per cent), Coimbatore (12 per cent), and Bengaluru (12 per cent).      

According to the tracker, hiring demand for professionals with more than 15 years of experience saw an 11 per cent year-on-year increase, while hiring demand for mid- to senior-level professionals with 7-10 years of experience grew 7 per cent month-on-month.

(With inputs from bl intern Vidushi Nautiyal)