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Information technology sector is not going to conduct any on-campus recruitment drives until September 2012 for the reasons of the slowdown, the industry is facing, if the industry insiders are to be believed. However, the companies are attributing the delay in the visit to the engineering campuses to “operational reasons”. IT sector is one of the biggest recruiter to the fresh engineering graduates by hiring about 200,000 of the 1 million engineers churned out every year. Nasscom is expecting the same number of engineers to be recruited by its member companies despite economic slowdown in the West and technology sector in particular.
The IT companies are normally observed to be visiting the engineering campuses in the 7th semester to beat the core manufacturing sector, for hiring the best of the talent ahead of them. IT companies have not been expecting manufacturing sector to recruit in large numbers this year, is also a reason attributed to the delay in conducting the recruitment drive by the IT companies.
IT exports are set to slow down this fiscal. Nasscom has predicted a growth rate of 11-14% for the industry in FY13, compared with the projected 16.3 in FY12. The lowering of growth estimates is because of the reduced spending on technology by US corporations, the debt crisis in Europe and political unrest in the Middle East.