India’s economic growth is undergoing a structural shift, as indicated by the faster non-IT hiring growth, according to Info Edge’s CFO.

Info Edge’s Executive Director and Group Chief Financial Officer, Chintan Thakkar, suggests that the faster growth in non-IT hiring segments, particularly in white-collar and English-speaking jobs, indicates a structural shift in India’s economy. According to Naukri.com’s JobSpeak Index for November 2024, white-collar hiring activity grew 2% year-on-year, with non-IT sectors like Oil & Gas, FMCG, and GCCs showing significant growth. Thakkar notes that traditionally, IT jobs have grown at a pace similar to or faster than economic growth, but this trend has changed over the past two years. He attributes this shift to the growing importance of non-IT sectors, which are now growing at a faster rate than the IT sector. This change is a sign of a structural shift in India’s economy, away from relying solely on the IT sector for growth.