Home >industry >infotech >Hiring activity in IT sector likely to be muted this year: Gopalakrishnan

New Delhi: Hiring activity in the IT sector is likely to be muted this year, Infosys co-founder and executive co-chairman S. Gopalakrishnan has said. “Hiring position seems to be muted this year because many companies still have deep bench (strength), in other words their utilization rate is still low," he told PTI.

The $100 billion India IT-ITES sector faced strong headwinds in 2012-13 due to global economic slowdown and muted spending in North America and Europe, which accounts for 80% of Indian IT companies revenues. Industry-body National Association of Software and Services Companies (Nasscom) expects a rise in global technology spending and opportunities created through adoption of disruptive technologies to propel growth in 2013-14.

Nasscom expects export revenues of $84-87 billion in 2013-14 at a growth rate of 12-14%. Exports were estimated to have grown by 10.2% to $75.8 billion in 2012-13.

The Indian IT industry, which contributes about 7.5% to the country’s economy, gives direct employment to 25 lakh people.

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