India Inc likely to go on a hiring spree in 2018

TIL Desk/Business/New Delhi/ Despite a lukewarm year that’s gone by for Corporate India, chief executive officers (CEOs) are optimistic about 2018. They expect higher sales growth and, as a result, a majority of them are planning to hire more people and increase investments.

In a nationwide survey carried out by this newspaper of 40 CEOs in December, 60 per cent of the corporate leaders said the roll-out of the Goods and Services Tax (GST) had made their lives easier though almost 72.5 per cent of them said they were still awaiting more clarity on the various issues emanating from the one-nation one-tax rolled out in July 2017.

“The GST is really good for the country and business as a whole, but it needs to be streamlined.”Though the government is working towards the same and is proactive in collecting feedback on issues and challenges faced, a lot needs to be done further,” said the CEO of a large hospitality chain.

The GST was a big-ticket reform rolled out by the Narendra Modi government soon after the surprise announcement to demonetise Rs 500 and Rs 1,000 notes in November 2016, leading to disruption in sales and profits of Indian firms and even job losses in certain segments of business.