India’s information technology (IT) services sector and startups together are expected to hire up to five lakh people in 2019 as demand for freshers is on the upswing, an industry veteran said Wednesday. Former Chief Financial Officer of IT major Infosys Ltd, T V Mohandas Pai said entry-level packages in the industry went up by as much as 20 per cent in 2018, after stagnation in salaries for the past seven years.
“Growth is coming back to the Indian IT services industry,” he said. Hyderabad has become a hot destination, with many new age companies coming to the Telangana capital, thanks to good infrastructure, and “very good marketing” by KTR (KT Rama Rao, who served as IT Minister in the previous TRS government), according to him.
He also said Indian companies were now trying to expand in markets in Asia much more vigorously, particularly Japan which is “opening up” and southeast Asia. Reskilling of employees in IT services companies has redoubled, Pai said.
“More than half the people have been reskilled in all the IT companies in India. Digital income is growing in double digits for all the companies. 2018 has been a good year”. Hiring has gone up, he said. “First time in seven years, hiring compensation (entry-level) has gone up by 20 per cent. Fresher compensation is going up, after a long time. It’s a good news”.