'Indian IT cos to suffer due to talent shortage'

By Staff
|
Google Oneindia News

Mumbai, May 16: Competitiveness of Indian IT companies will suffer in the next three to four years due to a shortage of talent, says former Infosys Chief Financial Officer and now Human Resource chief T V Mohandas Pai.

The requirement in the next three years is likely to be around ten lakh engineering graduates, he said while adding that the talent shortage is likely to afect other industries too. He expressing the need for the Government to intervene.

''India's human resource availability for high-end jobs like IT, financial services and civil engineering have reached a critical juncture with a great shortage of qualified people,'' he said.

''A war for talent was imminent with requirement of three lakh trained engineering graduates this year as against the availability of only two lakh employable graduates in the country,'' Mr Pai said.

The acute shortage of talent has been due to rapid growth in industry with the front-ranking companies growing at the rate of 30 per cent per annum, combined with the rapid pace of globalisation.

''Infosys alone has plans to hire 25,000 people globally this year as against the existing employee strength of 52,000 to work on 4,500 to 5,000 projects.

Pointing out that the talent pool isn't growing at the same pace for the whole of the country and the shortage was in terms of employable engineering graduates as against the total number available engineering graduates, Mr Pai said there were 495,000 engineering graduates but only around 225,000 of them were employable.

The top three software companies in India -- Infosys, Tata Consultancy Services and Wipro -- alone need to recruit 75,000 people this year, Mr Pai informed.

Infosys is trying to augment its talent pool by recruiting graduates globally and has already formulated plans to hire 800 to 1,000 people in China this year and 5,000 to 6,000 people over next three years.

In the USA too, Infosys is recruiting 300 young graduates besides 25 more graduates in the UK.

''But no country can give the scale that India can give,'' said Mr Pai.

The Company is also working with engineering colleges to upscale the skills of the undergraduates so that they could be recruited with ease when they pass out, he added.

UNI

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