Recession blues: Worst over for service sectors

According to a survey conducted by Manpower , it seems that the job outlook will be positive in early 2010. The export-dominated Indian IT services industry has been severely impacted by the ongoing recession in the developed economies, especially in the US and Europe, and now there are signs of certain uptick in demand for outsourcing and off-shoring. Although this growth will be slower than the 16% growth in FY09, but there are newer verticals and geographies emerging as growth opportunities. Apart from the IT industry services sector which also includes back-office services and hospitality etc, will also see an uptake in the market next year. Companies like Wipro, Infosys said they would be hiring in large quantities in the coming year is again an indication of the improving scenario.