The country’s IT sector seems to have come back to its record-breaking hiring days, with a top industry player Infosys projecting up to 1.8 lakh employees being hired by the five largest companies this year.
“Growth is back and most companies are hiring in large numbers again. The top five companies are estimated to hire 1, 60,000-1, 80,000 employees in the next 12 months,” Infosys CEO Kris Gopalakrishnan said.
Such large-scale hiring activities were last witnessed in 2007 by Indian IT companies, after which they had to cut back and even prune their existing headcount to cope with the economic slowdown.
“In 2008, the industry saw growth coming down to single digits. Most IT companies stopped hiring and stopped expanding,” Mr Gopalakrishnan said at a discussion on Sustainable Development Strategies organized by College of Architecture here. Mr Gopalakrishnan said that growth was now back and companies were expanding their headcount.
The IT industry has grown fast over the past 15 years. For example, the industry had about 1.50 lakh employees in 1993, around five lakh employees in 1999 and today, it employs around two million employees.
Industry estimates suggest that the overall hiring in India by all IT companies during 2011 could exceed or at least match the levels of 2007. Besides Indian IT firms, global giants like IBM, Accenture and HP have also been hiring aggressively in the country.
Source: EconomicTimes
“Growth is back and most companies are hiring in large numbers again. The top five companies are estimated to hire 1, 60,000-1, 80,000 employees in the next 12 months,” Infosys CEO Kris Gopalakrishnan said.
Such large-scale hiring activities were last witnessed in 2007 by Indian IT companies, after which they had to cut back and even prune their existing headcount to cope with the economic slowdown.
“In 2008, the industry saw growth coming down to single digits. Most IT companies stopped hiring and stopped expanding,” Mr Gopalakrishnan said at a discussion on Sustainable Development Strategies organized by College of Architecture here. Mr Gopalakrishnan said that growth was now back and companies were expanding their headcount.
The IT industry has grown fast over the past 15 years. For example, the industry had about 1.50 lakh employees in 1993, around five lakh employees in 1999 and today, it employs around two million employees.
Industry estimates suggest that the overall hiring in India by all IT companies during 2011 could exceed or at least match the levels of 2007. Besides Indian IT firms, global giants like IBM, Accenture and HP have also been hiring aggressively in the country.
Source: EconomicTimes