India is facing a youth unemployment problem as a decline in white-collar jobs in its information technology sector has left many fresh graduates and young people unemployed.
In the October to December period last year, unemployment in India's youth aged 20 to 24 years rose to 44.49%, from 43.65% in the previous quarter.
Unemployment among 25- to 29-year-olds rose to 14.33% during the same period from 13.35% in the prior quarter, according to the Centre for Monitoring Indian Economy.
"One of the largest segments that employ white-collar employees is IT and services, and hiring in the sector has slowed down quite a bit," he told CNBC.
Data from Foundit showed that online hiring for both IT hardware and software sections plummeted by 18% last year from 2022.
Persons:
We've, Chandra Garisa, Foundit, Garisa
Organizations:
Centre, Monitoring, CNBC
Locations:
India