Recruiters believe that employees in India will see greater salary increases in the next fiscal year because the company hopes to break the blockade. According to an exclusive report from Bloomberg, monthly salaries may rise by around 8% for the fiscal year beginning in April 2022, especially if the authorities avoid the third wave of virus outbreaks. This is higher than the survey forecast of 6% to 8% this year.
The e-commerce, pharmaceutical, information technology, and financial services industries are expected to achieve relatively large wage increases in India, while the retail, aerospace, hotel, and hospitality industries will take some time to recover.
At the same time, after the implementation of the new wage law, it is expected that the net wages of employees will decline. However, whether the basic minimum wage of employees can be increased is also controversial.