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India is set to become the third largest market for flexi or temp staff in the world, with the Indian Staffing Federation (ISF) expecting growth of 12 per cent this year and 10 per cent next year.
“The Indian Staffing Federation has predicted that the 2.1 million temporary workers presently in the organised sector will increase to 2.9 million by 2018, making India the third largest market in world” said Adam Pode, Director of International Research at Staffing Industry Analysts, in a release.
ISF, the umbrella body of flexi staffing industry in India, has estimated the worth of the Indian staffing industry at ₹270 billion
The top three firms in India, including two home grown firms — TeamLease and Quess — and the Swiss headquartered Adecco account for 20 per cent of the total market share in India.
An ISF statement said among the top five Indian staffing firms, TeamLease generated a rvenue of ₹19,869 million, Quess ₹19,594 million, Adecco ₹15,000 million, Randstad ₹13,485 million and Manpower group ₹7,991 million.
Rituparna Chakraborty, President, ISF, said “In India, the staffing industry clearly does not have a challenge of addressable market,” adding that “demonetisation and implementation of GST in recent times shall definitely be a force multiplier to the growth of staffing in India.”
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