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IT sector biggest job generator in 2021, financial services second: Hurun India 500 list

IT sector biggest job generator in 2021, financial services second: Hurun India 500 list

IT sector biggest job generator in 2021, financial services second: Hurun India 500 list
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By CNBCTV18.com Dec 10, 2021 8:48:56 PM IST (Updated)

Tata Consultancy Services is the largest employer with over 5.06 lakh employees, the Burgundy Private Hurun India 500 list showed.

The IT sector is the top employment generator in India in 2021, with 14,97,501 employees, the Burgundy Private Hurun India 500 list showed. Within the sector, Tata Consultancy Services (TCS) was the largest employer, with over 5.06 lakh employees.

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The report by Burgundy Private, Axis Bank’s private banking business, and Hurun India, said the financial services sector is the second largest employer in 2021 with 10,36,605 employees. HDFC Bank was the top recruiter in the sector, employing 1,20,116 people.
The automobile and auto components sector grabbed the third spot, employing 5,57,191 people in 2021, and Motherson Sumi Systems was the top recruiter in the industry.
The healthcare sector emerged as the fourth largest employer in 2021, with 5,40,686 jobs. The construction and engineering sector remained at sixth spot, with 5,25,145 employees.
Apart from this, the list mentioned the services sector (5,01,818), telecommunications (3,44,199), consumer goods (3,29,785), metals and mining (2,38,567) and construction materials sector (1,92,742) as the top recruiters of the year.
The report said India’s most valuable companies grew despite the disastrous economic effects of the COVID-19 pandemic. The Burgundy Private Hurun India 500 list for 2021, which ranks India’s 500 most valuable companies, said the total value of the 500 companies stood at around Rs 228 lakh crore, which is higher than India’s GDP for FY2021. Around 200 companies on the list saw their valuations double during the year, it said.
“The topline of these 500 companies is equivalent to 27 percent of India’s GDP and they employ up to 1.5 percent of the total workforce of the country,” said Anas Rahman Junaid MD and Chief Researcher, Hurun India.
Mukesh Ambani-led Reliance Industries was the most valuable company in the country with a valuation of Rs 16.7 lakh crore, while the most valuable unlisted company was COVID-19 vaccine producer Serum Institute of India with a 1.8 lakh crore valuation.
The companies in the 2021 Burgundy Private Hurun India 500 list contributed Rs 1.9 lakh crore (around 62 percent) of the overall corporate income tax collection in the financial year 2021.
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