New Delhi: Despite U.S. slowdown and rupee appreciation pulling down revenue growth, Indian IT professionals will be in demand with global software firms expanding their employee capacity in India, according to a study carried out by industry chamber, Assocham.
In the last three months, foreign IT firms announced plans of hiring 40,000 people in India by 2010. This is a significant development for the job market since shrinking margins dimmed hiring outlook of Indian IT majors which were feeling the pressure of increased value of Rupee against dollar, rising wage inflation and the slowdown in U.S. economy.
At a time when Indian firms seem to be curtailing wage hikes and are right-sizing staff strength to prevent squeezing margins, robust headcount expansion plans of foreign IT companies renders a positive outlook to the job market.
The Indian growth story seems to be intact for these global software service providers, most of which are set to ramp up their operations in India. Largest headcount expansion activity is planned by U.S. based Computer Sciences Corporation (CSC) who plan on recruiting about 16,500 people in the next two years.
The second largest announcement for headcount increase was made by global BPO giant Cognizant, which plans to raise its Indian staff by 14,700 this year. The UK based Zylog Systems has also drawn hiring plans of more than 4000 employees.
Xansa, a UK based technology firm will double its headcount in India from 5200 to 10,000 in three years. Ness Technologies, an Israel based firm plans on hiring another 1000 people this year while Vmware Inc, plans to bring its engineering staff to 1000 plus in the next two years.
Among the Indian firms, Satyam Computer Services, will hire 3000 employees in 2008. Cities which have been tapped most for the IT expansion were Mumbai, Pune, Hyderabad, Delhi and Chennai.