Nasscom predicts 1.4-1.5 lakh new jobs for IT-BPM industry: Don't lose hope
Hyderabad: The Nasscom, a not-for-profit industry association, is the apex body for the 154 billion dollar Indian IT-BPM industry has predicted at the time when the Information Technology (IT) industry is going through a "low" phase because of the number of jobs being lost by techies, the industry body, that around 1.3-1.5 lakh new jobs will be added in the IT-BPM (Business Process Management) sector during 2017-18.
This good news has come at the time when reports indicated that close to 7,000 people have been terminated from their jobs from various top-notch IT firms like Tech Mahindra, Cognizant and other companies in Hyderabad itself. Although all-India figure is not yet available.
The Nasscom said in its guidance on Thursday in Hyderabad that the Indian IT export is also projected to grow by 7-8 per cent in 2017-18. The domestic market is expected to grow 10-11 per cent, it added. "The IT-BPM industry is expected to add 1.3-1.5 lakh new jobs during 2017-18," Nasscom president R Chandrashekhar told reporters. In the previous fiscal, the industry's net hiring stood at 1.7 lakh. Keeping in view the political and economic uncertainties in key overseas markets that impacted decision-making and discretionary spend, and also the performance of IT companies last year, Nasscom expects the future outlook to be positive, he said. "India's share in the global IT sector is not only steady, but also growing," Chandrashekhar said. The size of the Indian IT industry is pegged at $154 billion, including $11 billion incremental revenues added in the previous fiscal, according to Nasscom.