Summary of the Report:
- Adoption of GST will lead to an 11 per cent growth in hiring across sectors. Further, from a region perspective though marginally South India will top the job generation chart.
- Automobiles, logistics, home decor, e-commerce, media and entertainment, and cement sectors are projected to create 11-18 per cent additional jobs annually after implementation of GST.
- In the case of IT/ITeS and BFSI segments, the growth rate has been pegged between 10 and 12.5 per cent.
- Around 10 to 13 per cent additional jobs are expected to be created every year by consumer durables, pharmaceuticals and telecommunications sectors.
- The predictability of cost of products manufactured or services rendered across the country would improve enterprise productivity.
According to Rituparna Chakraborty, EVP & Co-Founder, TeamLease, "The uniformity and the reduction in the average tax burden offered by GST will provide a great impetus to employment creation."