The surging investments announcements by the major corporates worth of Rs. 10,50,951 crore for the first six months of 2008, is expected to generate 1,63,770 direct employment opportunities for the next three to four years, according to a report prepared by ASSOCHAM Investment Meter (AIM).

The report titled “India Inc Investing… A Mid Year Report”, brushing aside the concerns of a slowdown, capital expenditure by the corporates reflects a positive outlook with companies investing massively.

The findings of the report also reveals that sectors like textiles, IT, real estate, financial services are expected to create maximum job openings in the next few years.

“The course of the economy over the past six months shaped by whopping capex plans show signs of feel good factor among the industrialists of the economy. The massive investments announcements in the past six months will provide a boost to the overall employment situation in the country,” Mr. Sajjan Jindal, President, ASSOCHAM said.

With the recent investment boom in the economy, Rayon Fashion Ltd. with a plan to set up fabric and garment making facilities in the state of Maharashtra is expected to provide employment to around 82,000 persons by the end of this fiscal.

According to ASSOCHAM report, the IT SEZ to be set up in Jaipur by Genpact is expected to generate 30,000 employment opportunities. With a mega integrated township coming up in the city of Chennai, Mahindra World City plans to employ around 15,000 workforce for the next five years.

Religare Finvest, announced that it would require around 10,000 personnel, which plans to open up 200 exclusive personal financial services stores. Himalya International ltd. announced job opportunities of 6,000 persons for setting up the first agri SEZ and food park.

Having a strong manufacturing base, the state of Tamil Nadu is expected to generate maximum job opportunities in cities like Chengalpattu, Madurai, Dharampuri district. The state of West Bengal also saw generation of employment opportunities with companies going for investments announcements in districts of Kalyani, Silgiri, Kharagpur.

Apart from that, Tier I cities of Hyderabad and Bangalore with investments announcements pouring in, is expected to offer employment opportunities in sectors such as real estate and IT.

- News Agencies