Indian companies are giving their staff the biggest salary increases in the world, according to a survey that is likely to fuel concerns over wage inflation in one of the fastest growing economies.

Indian employees are estimated to have received an average salary increase of 14 per cent this year. The rate is expected to be maintained in with 2008 settlements forecast to average 15 per cent. That compares with an anticipated annual inflation rate of 5.7 per cent this year and 5.4 per cent in 2008.