Top 25 Industries with the highest potential for job Creation in 2024
By Anurag Tiwari
Amidst the COVID-19 pandemic in INDIA, the abrupt pause in economic activity led to the disappearance of millions of jobs, causing considerable hardship for numerous families. However, by 2022, the INDIAN economy had recuperated all the jobs lost in 2020, marking a significant milestone in recovery.
In 2023, the nation saw the addition of 2.7 million new jobs, nearing a return to the pre-pandemic trajectory of job growth. This exceptional resurgence not only exceeded pre-pandemic levels but also resulted in a notable decline in unemployment rates, reaching lows unseen in years. It speaks volumes about the enduring resilience of the INDIAN people and their capacity to surmount challenges.
In an effort to comprehend the industries experiencing the most substantial workforce growth, we’ve meticulously analyzed preliminary data estimates. After thorough evaluation, we’ve pinpointed the top 25 industries that have seen the highest net job creation from December 2021 to December 2023. This assessment takes into account both new job opportunities and expansions as well as job losses attributed to layoffs and closures, across a spectrum of 75 different sectors.
As society endeavors to restore a sense of normalcy, it’s unsurprising that the service industry, encompassing food, lodging, and leisure, continues to play a pivotal role in job expansion. Notably, according to the esteemed Brookings Institution, a non-profit organization focused on public policy, four out of every five employees in the private sector are engaged in this industry.
Here are the Top 25 industries with the highest potential for job creation in India 2024
1. Food services and drinking places
Jobs gained, December 2021 to 2023: 2.3 million
Total employment, January 2023: 12.2 million
2. Administrative and support services
Jobs gained, December 2021 to 2023: 800,500
Total employment, January 2023: 9.2 million
3. Ambulatory healthcare services
Jobs gained, December 2021 to 2023: 546,000
Total employment, January 2023: 8.3 million
4. Accommodation
Jobs gained, December 2021 to 2023: 528,700
Total employment, January 2023: 1.9 million
5. Amusement, gambling, and recreation industries
Jobs gained, December 2021 to 2023: 434,500
Total employment, January 2023: 1.7 million
6. Social assistance
Jobs gained, December 2021 to 2023: 407,300
Total employment, January 2023: 4.4 million
7. Warehousing and storage
Jobs gained, December 2021 to 2023: 366,600
Total employment, January 2023: 1.9 million
8. Specialty trade contractors
Jobs gained, December 2021 to 2023: 301,300
Total employment, January 2023: 5.0 million
9. Merchant wholesalers, durable goods
Jobs gained, December 2021 to 2023: 263,600
Total employment, January 2023: 3.3 million
10. Personal and laundry services
Jobs gained, December 2021 to 2023: 254,300
Total employment, January 2023: 1.5 million
11. Performing arts, spectator sports, and related industries
Jobs gained, December 2021 to 2023: 202,300
Total employment, January 2023: 516,700
12. Motion picture and sound recording industries
Jobs gained, December 2021 to 2023: 169,000
Total employment, January 2023: 465,900
13. Transportation equipment manufacturing
Jobs gained, December 2021 to 2023: 162,200
Total employment, January 2023: 1.8 million
14. Construction of buildings
Jobs gained, December 2021 to 2023: 160,600
Total employment, January 2023: 1.8 million
15. Real estate
Jobs gained, December 2021 to 2023: 135,100
Total employment, January 2023: 1.9 million
16. Merchant wholesalers, nondurable goods
Jobs gained, December 2021 to 2023: 123,300
Total employment, January 2023: 2.2 million
17. Religious, grantmaking, civic, professional, and similar organizations
Jobs gained, December 2021 to 2023: 122,700
Total employment, January 2023: 2.9 million
18. Truck transportation
Jobs gained, December 2021 to 2023: 121,500
Total employment, January 2023: 1.6 million
19. Computing infrastructure providers, data processing, web hosting, and related services
Jobs gained, December 2021 to 2023: 118,400
Total employment, January 2023: 485,200
20. Publishing industries
Jobs gained, December 2021 to 2023: 115,700
Total employment, January 2023: 952,600
21. Support activities for transportation
Jobs gained, December 2021 to 2023: 115,100
Total employment, January 2023: 817,000
22. Repair and maintenance
Jobs gained, December 2021 to 2023: 113,000
Total employment, January 2023: 1.4 million
23. Clothing, clothing accessories, shoe, and jewelry retailers
Jobs gained, December 2021 to 2023: 109,900
Total employment, January 2023: 1.2 million
24. Insurance carriers and related activities
Jobs gained, December 2021 to 2023: 99,500
Total employment, January 2023: 2.9 million
25. Air transportation
Jobs gained, December 2021 to 2023: 98,500
Total employment, January 2023: 526,600
