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

The global IT industries is glooming due to heavy recession in the global market and the depression in the US Dollar, but it is a good for IT professionals and students as the Foreign IT giant firms like CSC and Cognizant have announced their plans to hire as much as 40,000 IT professionals within next two years.

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The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has revealed this fact on the basis of its ‘Eco Pulse’ study on April 23, 2008.

According to it, “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 remarkable declaration for IT job market which margins are shrinking due to dollar depreciation and global recession’ as per cited ASSOCHAM in its release.

‘In the comparison of foreign firms, Indian firms have hired only 4,400 headcounts during the January to April 2008’, added Assocham.

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,” said Venugopal N Dhoot, President of ASSOCHAM while revealing this study.

India IT firms has been in massive pressure due to dollar depreciation and declining in the earning revenue, That’s why these are shrinking the new recruitment as well as these are also struggling to sustain its revenue and employee in their company too, as official sources said.

‘The Indian growth story seems to be intact for these global software service providers, most of which are set to ramp up their operations in India’ as per release stated.

The US based Computer Sciences Corporation (CSC) has announced to hire the most Indian IT professionals following by Cognizant (US), Zylog System (UK), Xansa (France), Vmware Inc and Ness technologies (Israel) with constituting the numbers 16,500, 14,700, 4000, 2500, 1000 and 3,800 respectively in the two years.

Besides these, among Indian firms, Satyam Computer Services, one of the top IT firms has announced to recruit 3000 employees in this year.

Mumbai, Pune, Hyderabad, Delhi and Chennai would top the list of most recruiting cities.