During the financial year of 2017-2018, the recruitment figure was just below 14,000 employees, five times lesser than the current fiscal year.
After reaching a low in hiring employees last year, the top four companies in the Indian IT industry have recruited over 70,000 employees in the past year as per a report by The Economic Times.
The report was based on data collected from the top four IT companies — Tata Consultancy Services (TCS), Infosys, Wipro, and HCL Technologies. These four companies together hired more than 70,000 employees in the last nine months of the current financial year. During the financial year of 2017-2018, the recruitment figure was just below 14,000 employees, five times lesser than the current fiscal year.
The reasons cited for the increase in employment were due to increasing adoption of digital services and technologies by clients, automation, pressure on traditional business and growing protectionism in their primary markets.
Ajoyendra Mukherjee, head of global HR, TCS, quoted in the report said that the jump in hiring is significant which is a result of growing business. The report states that TCS hired 22,931 employees till December for FY19. The company had hired 3,743 employees in the previous year.
Infosys, India’s second-largest software service exporter, hired 21,398 employees against the net hiring of 3,743 recruits. Pravin Rao, chief operating officer at Infosys, said, “We have had more than $1 billion of large deal wins in the last three quarters, many of this will flow through in the coming year. So, we believe that we will continue to do the hiring,”Similarly, HCL Technologies and Wipro hired 12,247 and 12,456 employees respectively. These companies plan to hire thousands of college graduates this year. Wipro plans to double its campus hiring this year, the report says.