Indian wages set to grow by over 10%, leading Asia
NEW DELHI (AFP) - Even with an economy growing at its slowest pace in a decade, average Indian salaries are projected to jump by more than 10 per cent this year, a new survey forecast on Wednesday.
That is far below the blistering 15 per cent before the onset of the global financial crisis when the economy was expanding at near double digits, according to figures from global staffing services firm Hewitt Association.
But India leads in salary rises across key Asia-Pacific nations with its projected average 10.3 per cent rise for 2013 followed by China, where wages are seen growing by 9.3 per cent, the survey said.
"Business sentiment is strengthening," Mr Sandeep Chaudhary, consultant at Aeon Hewitt, told a news conference to announce the results of the survey of 500 companies.