India's software sector to add 230K jobs in 2012

Untapped markets in developed economies and global impetus to improve efficiency helps boost India's software industry, which is expected to add some 230,000 jobs this year, reports state.
Written by Jamie Yap, Contributor

Threats of market uncertainty and economic slowdown have not spooked the IT jobs market in India, with its domestic software industry expected to create an additional 230,000 jobs by end-2012.

The Times of India report on Wednesday cited National Association of Software and Services Companies (Nasscom) Chairman Rajendra Pawar as saying that India's software industry has already created 100,000 job offers in campuses. And this figure is set to grow because revenues are currently outpacing headcount. It is estimated that the IT industry revenue in India will increase 16 percent, but headcount will only rise by 10 percent, during fiscal year 2012, Nasscom stated. 

A separate report by The Hindustan Times on Monday quoted Pawar as saying: "The industry has already given out 100,000 job offers and we may even surpass the 230,000 hirings that we did last fiscal year if the tailwinds are positive."

N Chandrasekaran, CEO of Tata Consultancy Services and Nasscom vice-chairman, expressed positive sentiments toward the development of the country's IT market, too. He said that as many markets in the developed economies have yet been tapped, there are opportunities for the India's companies to take advantage of.

"There is a significant effort around the globe to improve efficiency and technology will play a big role in it," said Chandrasekaran. "This will throw up many opportunities for the Indian companies."

And it's not just the enterprises that are benefiting. According to an earlier report, India's small and midsize businesses will grow at a compound annual growth rate (CAGR) of 15 percent by 2015, contributing US$15 billion, or over one-third, of India's overall IT spend.

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