Indian Economy News

Flexi staffing industry grows 3.6% in December quarter of FY24: Report

  • IBEF
  • April 16, 2024

The Indian Staffing Federation (ISF) reported a 3.6% growth in the staffing industry during the third quarter of FY24, reflecting steady demand for flexible workforce solutions across diverse sectors. This growth trend aligns with the industry's upward trajectory, which witnessed a notable 16.4% year-on-year increase throughout 2023. Key sectors such as e-commerce, retail, logistics, manufacturing, hospitality, and aviation contributed significantly to the rise in employment, underscoring the sector's importance in driving economic activity and providing job opportunities.

By December 2023, the formal flexi workforce employed by ISF members reached 1.62 million individuals, highlighting the sector's substantial contribution to employment generation. While General Flexi Staffing saw a commendable 3.8% quarter-on-quarter growth in Q3 FY24, IT staffing experienced a marginal decline during the same period. President of ISF, Mr. Lohit Bhatia, commended the flexi staffing industry's double-digit growth trend at 16.4% year-on-year, emphasizing its resilience and pivotal role in bolstering India's workforce. ISF remains dedicated to advocating for the recognition, fair treatment, and social security of temporary workers, addressing the needs of this significant segment within India's labour market.

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