Over the past two years, the IT sector has undergone several changes, the effects of which were best reflected in its talent decisions. But with many now adjusting to such market changes, what is the future of IT talent?
One immediate impact of a globalized economy today is the ability of political and structural changes in one part of the globe to influence labor policy decisions in another part. This interconnectedness of global economies today have been put under the scanner with protectionist economic policies finding a larger in many of the developed economies of the west. And within the Indian context, no better example of how such rising favor of protectionist policies can impact sectors geographically dispersed economies has occurred in recent times. Such has been the case with the Indian IT sector.
Over the years, the role that the Indian IT sector has begun to play has been pivotal in the country’s economic journey. Owing to budding markets in the west and availability of local talent which would often operate at a lower labor cost, companies Infosys and Wipro were able to establish themselves as market leaders, with companies like TCS and Tech Mahindra following the suit. Given the growth potential of the IT sector across developed economies like the US and the availability of cheap trained talent in India meant many companies made India their base when it came to acquiring talent tow work in US markets. Over the years, this trend has meant that India’s IT sector has today evolved into a $150-billion sector with one of the largest job-creating potentials across the organized sector. But all this today maybe under change.
The journey in numbers
This story is from the May 2019 edition of People Matters.
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This story is from the May 2019 edition of People Matters.
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