India Inc keeps leadership hiring on track-for now

Atul Vohra, managing partner, Transearch India. “Consumer is a little impacted but most other sectors are doing okay. Even the technology sector, which has been disrupted by the impact of AI, is hiring.”

“Companies are cautiously optimistic but circumspect about how things will pan out,” he added.

Shiv Agrawal, managing director at search and talent advisory firm ABC Consultants, said the market was holding up, with some pockets of uncertainty. Industrial, auto, technology and manufacturing sectors continue to hire, while consumer is bearing the brunt of supply chain disruptions and rising costs. “Some mandates are taking a little longer to close… but on the whole, India is reasonably protected unlike markets like the Middle East where much of hiring has been scrapped/put on hold.” While there is some anxiety, sectors including new-economy, industrial, manufacturing, energy and utilities, financial services and life sciences are seeking senior talent, including from overseas, said James Agrawal, MD, BTI Executive Search.

However, firms report rising caution as supply-side challenges, inflation and geopolitical tensions weigh on sentiment. The full impact may become visible over the next three to five months if conditions persist, particularly for sectors dependent on crude and global markets, and if corporate earnings come under pressure.

Sonal Agrawal, managing partner at Accord India, said there has been no direct impact so far, including on hiring timelines, but warned that prolonged uncertainty could alter plans. “Anytime there is sustained disruption, people will re-evaluate their plans,” said Agrawal.

K Sudarshan, managing director at EMA Partners India, said the war overhang may affect business in the short term, especially given the firm’s exposure to the Middle East. However, there is optimism that conditions will normalise as the crisis is not structural like Covid or the collapse of Lehman Brothers.

“Companies dependent on crude or petroleum downstream products as a raw material will be impacted but so far no client has told us they are holding back on hiring,” said Sudarshan. “But this serious geopolitical situation overhang is the first in many years, so if it continues, then there will be an impact because hiring is also sentiment-based.”