The organized sector in India consists of 293.77 thousand industrial establishments. Out of these, 172.34 thousand are public sector enterprises while 121.43 thousand are in private sector.
The public sector employs about 180.7 lakh persons while the private sector employs 84.52 lakh persons. (Source: Internet)If you are wondering why these statistics are here, then the reason is though the private sector currently employs fewer people compared to the public sector, the employment trend in the private sector is on the rise. The employment in public sector decreased by 1 percent while that in the private sector increased by 2.5 percent.
The trend is not much different in the engineering sector. More jobs have been created in the private sector over the past decades than in the public sector and more and more engineers have been employed in the private sector.
Around the time of independence, most of the jobs for engineers were in the government sector. Indians preferred and opted to work only for the government sector. Engineers along with the people of different sectors opted for financial security than growth. Initial period of post-independence witnessed the creation of the public sector wherein large industrial organizations were set up offering employment opportunities to engineers in large numbers. Infrastructure improved and so did the economy. Big industrial houses emerged and with it came hundreds of opportunities for fresh engineering graduates in various disciplines.
With the globalization of the economy private sectors have been setting up their companies in India and thereby creating job opportunities for engineers. The software industry leads in the recruitment of engineers. Offshoring of engineering work has also benefited India as all major companies have their offshore offices in India where they can get quality work in a much reduced rate than in the parent country.
Indians today are open to challenges and are not worried about financial security. They want a better lifestyle than their predecessors and do not shy away from long working hours or new opportunities.
Benefits of working in a private sector• Excellent remuneration packages
• Salary increases based on performance
• Excellent medical schemes
• Better promotion opportunities
• More networking opportunities
• Challenging offers
Though the government sector employs engineering graduates more from the traditional streams like mechanical, civil, electrical, electronics and chemical than newer streams; the private sector offers opportunities for new engineering streams as well. Some of the engineering disciplines that are popular among private recruiters are:
• Automobile
• Biomedical
• Biotechnology
• Computer engineering
• Genetic engineering
• Instrumentation engineering
• Nuclear engineering
Some of the companies that have been recruiting engineers from different disciplines are:
• Deloitte Consulting-OTG
• Infosys
• Tata Motors
• TCS
• Dr Reddy Labs
• Godrej
• ICICI
• L & T
• Jet Airways
• Mahindra & Mahindra
• McKinsey
• Oracle India
• Motorola
• Polaris
• PUNJ-Llyod
• Reliance
• Samsung Electronics
• Whirlpool
• Wipro
• TVS Motors
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