India's largest software exporter Tata Consultancy Services (TCS) has announced it will hire 25,000 freshers in the next fiscal, in an indication that the company expects strong growth in the years ahead.
“We had announced hiring plans for 45,000 people this year and have already hired 50,000. In the next financial year, we have decided to hire 25,000 freshers,” said Tata Consultancy Services (TCS) CEO N Chandrasekaran.
TCS is also looking at an increase in its personnel count in all other geographies. “Hiring in the US is on the increase and same is also true for other countries like the UK and Mexico,” he said. Even as its competitors have taken a cautiously optimistic view of growth in the sector, TCS has remained confident of the outsourcing demand pipeline. Chandrasekaran said that the company expects an uptick in spending by clients in areas like digital technologies.
“When we started 2013-14, we had said it will be a good years and we will still stick to that. 2014-15 will be a better year than 2013-14 as per the initial talks that we have had with our clients. Going ahead, the concept of digital will be driving enormous opportunities across sectors, and we are seeing that across all markets,” he said, adding that the digital five forces including mobility, cloud, social media, big data and analytics.
He further added that areas like utilities, insurance, pharma, retail and financial services would also contribute to stronger market next year. Buoyancy in outsourcing demand and increasing confidence among clients is driving hopes for a better year for the $108 billion Indian IT-ITeS industry.
While the Indian IT sector weathered effects of sluggish global economy and currency fluctuations, the proposed US Immigration Reform Bill still remains a concern until further clarity on the final bill. The company is also optimistic about clients’ discretionary spending — made for long-term projects — increasing in the next fiscal due to an improving economy in the US, which is its biggest market. “Based on our conversations with clients, we expect discretionary spending in the next fiscal to increase. In the US, there’s a lot of positive mood. Companies are feeling that there are growth opportunities,” said Chandrasekaran.
However, the company expects the business in India to remain volatile. “Domestic business remains volatile and will continue to remain the same, as we are approaching Parliamentary elections,” he said.