‘Achhe din’ in IT sector as majors set to pick more people: Report
New Delhi, Jan 15: It's 'achhe din' for India's IT sector.
The country's IT outsourcing firms have started making a comeback in the job market and the net employee addition by India's largest IT firms Tata Consultancy Services (TCS) and Infosys was better than any other quarter in the previous five years, Quartz reported.
This is a refreshing news after India's biggest tech firms laid off over 56,000 people in 2017 owing to factors like digitisation and automation.
The experts also forecast hope saying in 2019, the IT employers will remain more confident and aggressive on hiring.
A recent World Economic Forum report said that new=age technologies like Artificial Intelligence and machine learning are set to gobble up 75 million jobs by 2022 but there is also the greener side to the story. The advent of new technologies will also give birth to 133 million new jobs in the same period, the Quartz report added.
"...the demand for professionals with evolved, tech-led skillsets will only increase further in 2019," Quartz quoted Zairus Master, CEO of Shine.com, a jobs portal, said.
"Experts in areas such as data compliance and cybersecurity will also be much sought-after, given how critical data privacy and information security have become in the global business discourse."
Mint reported last September that India's top five IT firms - TCS, Cognizant, Infosys, Wipro and HCL - added 24,047 people in April-June 2018. In FY18 - net employee addition by the top five firms was just 13,772.