Consulting firm Deloitte anticipates that the Indian IT industry is likely to add over 2.25 lakh employees in 2011.
In its Technology, Media and Telecommunications Predictions for 2011, Deloitte has mentioned takings from the IT and BPO outsourcing sector will yield returns worth USD 71.7 billion by the end of 2011 and account for 5.8%of the country’s GDP.
The Indian IT-BPO industry has gained immense significance over the past decade and become the country’s foremost growth driver in terms of revenue generation and creating employment opportunities.
According to the report the total number of employees working in this sector will see growth of 22.3 lakh this year, rendering an addition of 2.26 people to the segment and also mentioning that 80 lakh professionals will receive employment indirectly from the IT/ITeS (IT enabled services) sector.
As the global economy adopts a recovery approach, the report comes at a time when IT magnums like TCS, Infosys and Wipro have increased its hiring and is looking to add more employees this season.
Deloitte also expects European and Asian markets to yield higher growth in revenues compares to North America in 2011. The report also mentioned that up to USD 60 billion of the total of USD 71.7 billion will come from core software and services vertical. Exports from this sector will grow up to 17% to USD 47 billion.