India's information technology (IT) industry is expected to generate between 1.3 to 1.5 lakh new jobs this financial year, as it slowly deploys the excess number of engineers hired last year when business growth turned out to be less than expected.
The hiring estimates by industry body NASSCOM pales in comparison to the just completed year when the industry created about 1.88 lakh new jobs.
Indias IT & BPO sector provides direct employment to about 30 lakh people.
Business is not growing in a linear fashion as we move up the value chain, said NASSCOM President Mr. Som Mittal.
Even with about 1.30 lakh new jobs, still we are the largest employer. The $ 10,800 Crore export driven IT sector. However, is expected to see better growth in the current financial year, according to industry body Nasscom, which has pegged the growth at nearly 12 to 14 per cent compared to just about 10 % last year.
Some of the larger companies such as Infosys and Wipro grew slower at half the industry pace, and are burdened with large benches engineers who are not working on any revenue generating projects.
While Infosys delayed the absorption of graduates hired from campuses by up to nine months, others such as HCL have faced protests by engineering graduates who were selected from campuses in late 2011 but are awaiting joining dates.
The nature of services delivered by Indian IT companies are evolving, requiring less number of engineers as automation of work becomes common place.
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