Indian Economy News

Amid global slowdown, India is the fastest-growing market for LinkedIn

According to a Times of India (TOI) study, LinkedIn India has expanded by almost 400% over the past 5 years. LinkedIn's revenues from the Indian market increased by 84% as compared to FY20. After the US, India is the country with the second-largest market for professional networking. LinkedIn has identified India as its fastest-growing market.

LinkedIn's MD for Asia-Pacific (APAC), Ms. Feon Ang told TOI that India accounts for roughly half of APAC members. She continued by saying that out of APAC's total of 254 million members, more than 100 million are from India. Furthermore, the rate at which new members join LinkedIn in India is faster than everywhere else in the globe, she added.

She elaborated on the Indian market, saying that many people are actively looking for new chances and that companies are using LinkedIn to hire. She claims that Indian LinkedIn members are more engaged than worldwide.

She stated that even as large IT businesses around the world lay off employees, LinkedIn continues to hire people for crucial roles. When asked about the LinkedIn employment situation, she stated, "So far, we have not fired anyone and we are doing our best to manage our business in a better way," according to TOI.

According to a recent LinkedIn survey, professionals are increasingly emphasising skills over degrees. According to the survey, over 76% of professionals in India believe that talents are more significant than academic credentials.

According to TOI, a high majority of Indian professionals who participated in the study feel that employers will prioritise experts with a diversified skill set above those with competence in one domain.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.