As per data by Foundit Insights Tracker (fit), the Retail and Advertising, Market Research, and Public Relations (PR) sectors also maintained robust growth, registering 29 percent and 26 percent year-on-year increases, respectively, reports Money Control.
Shipping and marine sector
The Shipping/Marine and the Travel and Tourism industries marked impressive resilience with year-on-year (YoY) growth of 44 percent and 30 percent, respectively. The upcoming festive season has spurred increased enthusiasm for travel, with Indians eager to explore domestic and international destinations, according to a report by talent platform Foundit.
The government had also announced initiatives to boost tourism as part of hosting the G20 Summit in 2023. Measures included improving tourism infrastructure, developing 50 tourist destinations, and launching campaigns highlighting India’s cultural diversity and heritage.
As per data by Foundit Insights Tracker (fit), the Retail and Advertising, Market Research, and Public Relations sectors also maintained robust growth registering 29 percent and 26 percent YoY increases, respectively. The retail sector’s expansion is notably driven by the Diwali festivities, stimulating elevated consumer spending on clothing, gifts, and home decor. Retailers capitalize on this period by launching new products and offering promotions, further spurring sales.
Conversely, areas like Printing/Packaging and Agro-based industries faced considerable challenges, witnessing significant 25 percent YoY declines. The Printing/Packaging sector is struggling due to amplified competition from digital media, diminishing the demand for traditional print items like newspapers, magazines, and catalogs. This shift has adversely affected employment in the sector, highlighting digital media’s impact on conventional print practices.
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Source: Money Control
