Foreign IT firms set to hire 40,000 employees in India : ASSOCHAM

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New Delhi, Apr 23 (UNI) Despite a slowdown in the US and appreciation of the rupee pulling down the revenue growth, the Indian IT professionals remain in demand, with the global software firms expanding their employee capacity in the country, a study said.

According to the industry body Assocham's Eco Pulse Study, in the last three months, foreign IT firms have announced their plans of hiring 40,000 people in India within next two years.

This would be a significant development for the job market as the shrinking margins had dimmed the hiring outlook of the Indian IT majors.

The foreign firms planning the intake of 40,000 employees as announced during January to April 2008, as against the headcount increase of mere 4,400 declared by the Indian software companies.

The Information Technology (IT), which is one of the highest employment generating segments in the services sector, has been feeling the pressure of increased value of rupee against dollar, rising wage inflation and the slowdown in the US economy.

''At the time when the Indian firms seem to be curtailing the wage hikes and right-size the staff strength to prevent the squeezing margins, the robust headcount expansion plans of the foreign IT companies renders a positive outlook to the job market,'' President (Assocham) Venugopal N Dhoot said.

The largest headcount expansion activity has been planned by the US based Computer Sciences Corporation (CSC). The company has announced the headcount addition of 16,500 in the next two years.

The second largest announcement for headcount increase was made by the global BPO giant Cognizant, which plans to raise its Indian staff by 14,700 this year.

The UK based Zylog Systems has drawn the hiring plans of more than 4,000 employees while Xansa, a UK based technology firm, has announced its plans of to double the headcount in its India operations from 5,200 to 10,000 in three years.

Ness Technologies, an Israel based firm, has announced the recruitment of 1,000 people this year to its present staff of 2,800.

Another firm, Vmware Inc, plans to raise its engineering staff to more than 1,000 people in the next two years.

Among the Indian firms disclosing their hiring plans, Satyam Computer Services, one of the top IT firms, stated the addition of 3,000 employees in the year 2008.

The cities which have been tapped most for the IT expansion were Mumbai, Pune, Hyderabad, Delhi and Chennai.

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