Is India’s Tech miracle turning sour for the sector’s 3.9 million workers? For more than a year India’s media have been drawing attention to an increasing number of Tech sector redundancies. The big Tech companies however refute this confirming that they are not laying off more workers than would ordinarily be the case. Nonetheless data from the sector’s federation Nasscom, suggests that India’s IT services companies are creating fewer jobs than previously. In the year that ended on 31 March 2017, 170,000 jobs were created in the sector compared with 150,000 for the same period in 2018, and forecasts for 2019 of 100,000 should confirm the slowdown.
In May 2018, the Business Standards daily publication analysed data from India’s four biggest Technology companies: Tata Consultancy Services, Infosys, Wipro, and HCL Technologies. For the tax year ending 31 March 2018* the four Tech giants saw their numbers swell by 13,972, while in 2016-2017 headcount increased by 59,427, or an equivalent slowdown in growth of 76%.
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