The boom of Indian IT services is back again. Recovering from the layovers and the sit offs, the Indian IT sector is now looking to hire again.
The Indian IT sector is a $60 billion industry and as the demand for outsourcing increases with the cash crunch in the west, outsourcing firms are scampering to improve the quality of their services to get more and more business.
When you contrast this with what had been happening just a few months earlier, the difference are stark. Salaries and promotions were frozen and even big companies like Tata Consultancy Services had frozen hiring and sent back fresh recruits, only to call them back a year later. This had happened as most outsourcing firms began to see red in their first quarter reports.
This was a major setback to India’s growth story since the IT services sector is today one of the biggest job creators in India, lapping up fresh graduates every quarter. With the confidence back now, bigger things may be expected from the industry.
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