Nasscom, the association of software companies, has said in a report that the IT sector now employs 35 lakh people in India. This labour force will grow 6 per cent this year. This year 2.5 lakh people will be recruited compared with 2.3 lakh people in the previous financial year. Among them, 70 per cent will be fresh recruits and 30 per cent will be experienced professionals.
Companies’ revenue will also increase. At present, Indian IT industry earns a revenue of 14,800 crore dollars (Rs 9.62 lakh crore). In 2015-16, revenue will increase by 2,000 Crore dollars (approximately Rs 1.3 lakh crore).
In addition to recruiting so many people, the industry has to retain existing techies too.To retain them, their pay might increase by up to eight per cent. The number of techies leaving every year looking for better opportunities in other companies makes up 16 percent of total employees. One reason for the high level of new recruitment is the migration of staff. As a result, recruitment of experienced people also goes up.