With the economy looking up, India Inc is all set to hire in this quarter (April-June). According to TeamLease, a staffing firm, the corporate space would witness a gradual but sure advent of aggressive hiring in the first quarter of FY 2010-11. VP Rajesh AR from TeamLease Services said that, “Industry seems to have turned the corner and intends to hire aggressively. The recovery in sentiment is smart, comprehensive and widespread – the jump in hiring sentiment is shared across geographies and across most sectors.” “The improvement in sentiment has been studied and gradual over the past 4 quarters – giving us sufficient reason to believe that it is here to stay. Although global economy concerns persist, as far as the employment scenario in India is concerned, the cheer has spread and the good times are back.”

The employment outlook index grew 58 index points between April and June 2010. This is an 11 percent increase over the previous quarter. The survey conducted included around 513 companies across the country. The survey mainly focuses on hiring forecasts, employment growth potential and the business outlook with relation to the location and the company profile. Bengaluru and Ahmedabad were leading in the employment outlook index. Bengaluru was leading with the employment outlook by 23 points and business outlook increased by 7 percent. All sectors except Infrastructure and Telecom are witnessing an increase in hiring index. Healthcare/Pharmaceuticals and IT have seen the highest hiring index. Business outlook are also on an increase with FMCG and retail topping the list.

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.