Rising Salaries in India: A Surge in Economic Growth

Indian employees are set to receive an average salary increment of 9.4% this year, signaling strong economic growth. The automotive sector leads with anticipated increments of 10%. More than 1,550 companies were surveyed, revealing a robust demand for talent and a competitive job market.

Indian employees can expect a 9.4% average salary increment this year, a clear indicator of robust economic growth and increased demand for skilled workers, a recent report revealed on Tuesday.

According to the Total Remuneration Survey by HR consulting firm Mercer, salary increments have been rising steadily, from 8% in 2020 to a projected 9.4% in 2025. The automotive sector, fueled by the surge in electric vehicles and the 'Make in India' initiative, leads with anticipated increments of 10% from 8.8%.

More than 1,550 companies across diverse industries participated in the survey. The findings highlight a vibrant talent demand, with 37% of organizations planning to increase headcount by 2025. Companies focusing on strategic recruitment, competitive compensation, and upskilling are poised to attract talent in this competitive market.

(With inputs from agencies.)