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Economy

Indian wages to rise at slowest pace in decade as economy slows

Aon Plc survey predicts average salary increase of 9.1% in 2020

India is grappling with weak consumer sentiment and a growing pile of bad debt.   © Reuters

MUMBAI (NewsRise) -- Indian companies are likely to offer the lowest salary hikes in a decade this year as Asia's third-largest economy contends with a slowdown that has stirred an air of "caution," a survey by Aon Plc showed.

The survey, based on data from 1,000 companies across 20 industries in India, predicts an average salary increase of 9.1% in 2020, the consulting firm said Tuesday. Companies in India gave an average salary hike of 9.3% last year, it said.

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