Job bonanza for IT students in 2012

By Priya Chatterjee

Financial Year 2013 seems to be promising for the IT jobseekers with the creation of additional 230,000 jobs by the end of FY 2012. The threats of economic slowdown and market uncertainty were brushed away with the announcement made by Nasscom Chairman Rajendra Pawar. He said that 100,000 students have already received the offer letters. Nasscomm stated that IT industry revenue in India will increase 16 percent, but headcount will only rise by 10 percent.

TCS CEO N Chandrasekaran said that the kind of numbers Indian companies are adding is unprecedented and they will have to hire from every part of the world. It is said that the industries must have created a direct employment of 2.7 million and indirect employment of around 8.9 million. IT-BPO sector continues to rule the job market by creating a whooping 11.7 million jobs in the country. The industry is expected to increase the direct employment by 9 percent.

The Nasscomm chairman also added that the presently there's a growth of 11-14%. They will revisit in October, based on which there will be 200,000 more hiring and it will either similar as Financial 2012 or slightly higher. Read More...

India has indeed come a long way for the industry which had reached the $100 billion (Rs 500,000 crore) mark in terms of revenues. It would include roughly about $16 billion in hardware, which for long has been seen separately from the service companies centered on software and IT-enabled services. It just seems yesterday that the whole country was worried about the Y2K bug and now has made its mark on the world. This industry accounts for 7.5% of India's gross domestic product (GDP), with an estimated export of $69 billion in the current fiscal year ending next month.

Other interesting reads:

- Infosys to hire 20k from Indian campuses
- XLRI campus placements see high pay packets