IT sector to recruit 165,000 professionals this year | business | Hindustan Times
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IT sector to recruit 165,000 professionals this year

Increased technology spends and outsourcing from US, Europe has prompted IT companies TCS, Infosys, others to increase hiring projections by 6-10% this year. Manu P Toms reports.

business Updated: Oct 22, 2013 10:14 IST
Manu P Toms

Hiring by information technology companies such as TCS, Infosys and others will rise this year as strong quarterly earnings have led many companies to revise their recruitment targets upwards.

“Hiring is definitely going to improve,” said Sangeeta Gupta, senior vice president, Nasscom, which had said in July that the IT industry would recruit 150,000 in the current financial year.

Increased technology spends and outsourcing by US and European clients coupled with the depreciation of the rupee have resulted in Indian software exporters reporting strong numbers for the second quarter. This, in turn, has led to an improvement in hiring outlook.

“It will be higher than what we said in July,” said Gupta. Industry sources told HT that figure could be 6-10% higher.

Industry leader Tata Consultancy Services has already said it will hire 5,000 more than the 45,000 IT professionals it had projected for 2013-14 as demand increased strongly in Q2.

“We will hire in line with business demand,” said an Infosys spokesperson. Analysts interpreted this as shorthand for more robust hiring.

The mid-tier companies are more gung-ho about hiring. For instance, Pune-based 7,000-strong Persistent Systems said it would hire more than it initially planned. “Our net hiring for the quarter was 300. We would make a net addition of 626 people for the next two quarters which is more than our original plan,” said Mritunjay Singh, chief operating officer, Persistent Systems.

“There is an improvement in hiring outlook as IT companies have gained traction. However, we maintain that unlike in the past, hiring will be closer to the demand,” said Nasscom’s Gupta. “Companies are more inclined to just-in-time hiring and are looking for highly specialised skills,” she said.