IT sector on the move!

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     IT sector in India is rejuvenating. Many companies like Tata Consultancy service(TCS) and infosys has registered a growth rate of 15% and 12% respectively. But it will be wrong to assume that the jobs which had taken a dip in the last 2 years, will  increase proportionately.

Rewind five years and you can see a boomimg IT industry at its heyday, where the companies had witnessed huge growth rates and profits. It also helped to alleviate the perennial unemployment problem that exists in India. An average of 2.4 lakh jobs were offered every year in this sector from Finacial Year (FY) 2011-15. But this numbers took a dip in the FY 2016 with only 1.7 lakh job hirings. It further dwindled to 1 lakh in the year 2017 exacerbating the situation further. This sudden plunge over the years is because of its failure to adapt to the rapidly evolving technology. Many people predicted the situation to grow further worse, but the present scenario proves it wrong. One should not correlate the growth rate with the expected increase in jobs because the modalities of IT companies in India have changed. The emphasis on the number of employees has waned and the focus now is all about quality. Analysts are claimimg that the job hirings will be the same as the last year i.e around 1 lakh. 

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