2024 Cost Of Living Increase For Employees In India. Indian companies expect to raise employee salaries by 9.8% in 2024, close to the 10% increase in 2023, making india the country with the highest salary hikes in asia pacific,. New delhi, november 1, 2023 — the median salary increase in india is forecasted to rise by 9.8% in 2024, close to the actual salary increase of 10% in 2023.

This is lower than the 9.7%. Though employees want higher wages to mitigate the cost of living, as organizations prepare for 2024, they need to balance cost management and affordability with employee attraction and retention challenges.