Indian IT industry is the biggest employers in country but it may fall by 1/4 due to the downgrade of USA’s credit rating and economic crisis. Experts also said that it might take 5-6 months for recruitment activity of IT sector to gain momentum.
“We are expecting overall almost 26 per cent dip in recruitment in IT industries from first quarter of FY’12. It’ll take at least 5-6 months to get momentum in hiring in IT industries,” MyHiringClub.com Founder and CEO Rajesh Kumar said.
“Due to the economic crisis in the US, the Indian IT job market is also going to be affected badly. The major reason behind this is cost-cutting in Indian companies’ US division. In the near future, Indian IT companies having offices in the US are going to face a surplus in their existing manpower strength,” he added.
The US accounts for almost 60 per cent of the revenues of the $60 billion Indian IT industry.
Most Indian IT firms agreed that while there are fears of another recession in the US and a debt crisis in Europe, it is still too early to know what is coming.
“We are expecting overall almost 26 per cent dip in recruitment in IT industries from first quarter of FY’12. It’ll take at least 5-6 months to get momentum in hiring in IT industries,” MyHiringClub.com Founder and CEO Rajesh Kumar said.
“Due to the economic crisis in the US, the Indian IT job market is also going to be affected badly. The major reason behind this is cost-cutting in Indian companies’ US division. In the near future, Indian IT companies having offices in the US are going to face a surplus in their existing manpower strength,” he added.
The US accounts for almost 60 per cent of the revenues of the $60 billion Indian IT industry.
Most Indian IT firms agreed that while there are fears of another recession in the US and a debt crisis in Europe, it is still too early to know what is coming.
