How do you evaluate the growing layoff trend and decode the underlying circumstances in Indian context? Will global layoffs jolt India’s IT sector?
AS From all macro-economic parameters, India is a growth story. We have enough tailwinds to continue pushing our economy ahead. We are the fifth largest economy in the world and are striding well towards becoming third largest by the end of the decade. Salary increases in IT sector continue to be on higher side of average. As per some estimates, India’s IT/GCC sector has been steadily growing at about 11% p.a. New GCCs/IT centres are getting established and existing ones are expanding.
In light of this, it seems to be a paradox that on one hand IT sector is expanding and on the other hand we are witnessing layoff trend. To understand this, we need to look at the kind of clients these IT centres are serving -In-house or external.
In case of in-house IT centres or GCCs as we call them, we are witnessing growth as India provides exceptional IT talent at fraction of the...
