This is good news for IT professionals. According to a report, 3.6 lakh employees will be recruited in the IT sector. According to a recent report, companies are considering hiring a large number of freshers in the current financial year. According to the report, the rate of job loss has increased significantly in the current financial year. IT jobs lost 22.3 per cent in the third quarter (October-December) and 19.5 per cent in the second quarter (July-September). In the fourth quarter (January-March), the rate is expected to remain at 22 to 24 per cent, the report said. Also, the concern is that while salaries in the IT sector are steadily rising, attrition rates are not declining. "Despite the prevalence of covid, the IT sector is booming," it said. This means that the pandemic has no special effect on the region. According to reports, there will also be a big jump in revenue this year and companies will recruit in large numbers. The revenue growth for the IT sector in the current financial year will be between 19 and 21 per cent, the highest in history. The growth is expected to continue till FY 2023-24.
According to a recent report, six reputed IT companies have hired 2.15 lakh graduates as freshers in FY2022, up from 99,000 last year. According to the report, Cognizant, HCL Tech, Wipro and Tech Mahindra are all set to hire 1.4 lakh freshers for the coming year.
The Indian IT services market is expected to grow from 230 billion dollar to 240 billion dollar. Which is mainly driven by the growth of 15 to 20 reputed Indian IT companies. Nasscom's latest report also says that the next financial year will be a great one for the IT sector. Digital demand will continue to grow next year, so the sector will grow rapidly. By 2026, the industry will be worth 350 dollar billion.