Besides global economic uncertainties, smaller and mid-size companies in India have posted up to 20 percent growth, according to the National Association of Software and Services Companies (NASSCOM). NASSCOM is a trade association of Indian Information Technology (IT) and Business Process Outsourcing (BPO) industry.
It is reportedly said that smaller and mid-size companies in India have adopted different business strategy after the 2008-09 economic crises.
According to Som Mittal, NASSCOM President, the mid-size companies were most affected by the 2008 downturn. However, they changed their business strategy and that model has paid off for them.
Acknowledging that many mid-size companies have posted a 20 percent growth, he further added that the fundamentals of the domestic IT industry remain strong. Mittal also stated that there would no downward trend in Indian IT companies’ recruitment plans this year. According to an estimate, nearly 1, 10,000 offers have been made (this year) and onboarding has already been started. There would be a large percentage of onboard workforce by the end of March 2013.
After observing the latest hiring trend, he further added, companies first hire on-campus, then go in for off-campus (when there is a need to recruit), lateral entry and lastly global hiring.
On the global front, Indian IT companies are now looking at leveraging mobile platform and cloud computing to remain competitive.