KOLKATA: Is the IT industry witnessing a silent revival of sorts? Well, the signals seem to clearly suggest as much. Take, for instance, the latest forecast from Nasscom, the apex software industry body. Nasscom expects at least 70,000-80,000 engineering grads who passed out in June 2009 and were offered jobs in their 5th and 6th semesters by TCS, Infosys and Accenture, among others, to get absorbed by March 2010. Not too long ago, there were apprehensions that the appointments of these tech grads could get deferred till 2011 in the aftermath of the global slowdown. That perception appears to have changed.

Speaking to ET, Nasscom vice-president Sangeeta Gupta said: “There’s some amount of pick-up in IT spending and clients have become active in the decision-making process. This augurs well for the IT industry and is likely to result in hiring by IT companies. Companies like TCS, Infosys and Accenture, among others, are expected to start honouring the offers they made. As a result, at least 70k-80k engineering graduates, who were issued offer letters, are expected to get absorbed by March 2010.”

For instance, the country’s biggest software firm Tata Consultancy Services (TCS) had made some 24,000 offers in 2008-09, according to its Q2 analyst call. During the concall, the company had indicated it would honour these offers this fiscal. In Q3, TCS is expected to absorb about 8,000-odd, and the balance, in the following quarter. Till Q2, the company had absorbed some 1,800 people.

Similarly, Infosys, in its Q2 earnings call, indicated that it would add 20,000 people instead of 18,000 indicated earlier. The additional 2,000 would be partly in BPO while the rest would make up laterals at Infosys Technologies.

Incidentally, Nasscom has urged member companies to recruit those who’ve completed their eighth semester to ensure that hiring is closer to the need of companies. For this fiscal, Nasscom has projected a mere 4-7% export growth. It is likely, that with IT sector showing signs of recovery, Nasscom will review the export target. “We can review the export target by end- December,” she added.

Incidentally, McKinsey in its report titled ‘Perspectives in the IT industry by 2020’, has noted that with the current pace of reforms and expected constraints in talent and infrastructure supply, the exports component of the Indian IT industry is slated to reach $175 billion in revenues by 2020. The domestic component will contribute $50 billion in revenues by 2020, which is larger than the total export revenues for India now.

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KOLKATA: The animation industry is likely to have the going good in respect of jobs. Nasscom’s projections suggest that employment in this sector will double from 14,700 now to 29,500 by 2012. Similarly, the gaming industry too will create a huge number of jobs in the next three years, with the projections being 10,700 jobs by 2012 from a meagre 2,300 people now.

Responding to a ET questionnaire over phone from Delhi, Sangeeta Gupta, vice-president of Nasscom said: “The animation and gaming industry in India has immense scope to grow. Given the financial meltdown, many western countries are actively looking at destinations like India to develop animation content within moderate budgets. The increased interest of Bollywood and the regional cinema industry for animation, has boosted growth also. The Indian animation industry has moved from a pure offshore model to co-production model. While the domestic sector contributed with manpower and infrastructure, international producers helped with marketing and distribution.”

Ms Gupta said that according to Nasscom therefore, animation and gaming companies will witness a significant growth by 2012. “At present, there are some 250 animation companies in the country. By 2012, we expect the number of such companies to swell to around 400. The number of gaming companies will also double from around 50 now to 100 by 2012.”

The Nasscom vice-president estimated that the turnover in the animation sector could cross $1 billion by 2012 from Read more…

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KOLKATA: NASSCOM has projected that some 30,000-40,000 students will be absorbed by IT companies this fiscal. Talking to ET, Nasscom president Som Mittal said: “Typically, we take one to two lakh people annually into our industry. In the current fiscal, we had made offerings to 80,000 fresh graduates, of which we are expecting that some 30,000-40,000 will join.”

He further added: “This year, we have asked companies to recruit those who have completed their eighth semester to ensure that hiring is closer to the need of companies. This is being done, so that companies don’t have a huge talent pool who are in the pipeline to join the industry.”

Asked about the outlook of the industry in 2010-11, He said the industry was on a wait-and-watch mode about the growth in FY11. “We will review the situation in December this year. We have already reached end of the recession. By end of the calendar year 2009, we expect deals, some large deals are coming up.”

Mr Mittal said the industry in the past one year has witnessed slowdown in growth, as a result of the global crisis. Nasscom estimates for the IT-BPO industry for 2009-10, include export growth at 4-7% and domestic market growing at 15-18%.
While uncertainty prevails, the sentiment now being reflected is that the worst of the crisis is over. “The industry has demonstrated maturity, resilience and enhanced efficiency. Of specific interest was the growth in domestic market, a three-fold growth in emerging verticals and geographies, enhanced globalisation and over 90% repeat business from clients in this tough environment,” he said.

Mckinsey & Company in its report on the perspective of the IT industry by 2020 has given the current pace of reforms and expected constrains in talent and infrastructure supply, the exports component of the Indian IT industry is expected to reach $175 billion Read more…

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