'Addl IT personnel requirement could be down by 50K in FY14'
Hyderabad: The additional personnel requirement in the IT sector of the country may come down by nearly 50,000 in the current fiscal as there is a large scale backlog of recruitments last year, IT-BPO industry body Nasscom said on Wednesday.
"Last year we added 1.8 lakh jobs net. This year it will be 1.3 to 1.5 lakh jobs. Last year there was filling up back logs because we had shrunk our pipeline. We are still the largest employers of white collar sectors of the country which has 3 million young people at the age of 27," Nasscom President Som Mittal told reporters here.
"Secondly, our business is not linear any more. There was time where for every dollar you added so many hours. But today it is IP-led and innovation, which we don't repeat (the job) which is good for the country," he added.
Replying to a query, he said the IT industry is expected to grow at 12 to 14 percent in dollar terms in the current fiscal.
"This year we will probably add USD 13 to 15 billion new business in both domestic and exports," Mittal said.
According to him, the IT industry witnessed USD 76 billion exports and USD 32 billion domestic business which includes hardware last year. In 2012-13, the industry has grown 10.2 percent in pure dollar terms and 10.9 percent in constant currencies and 21 to 22 percent in rupee term.
On attrition rate of the industry, Mittal said it has come down as demand and supply adjusts.
Currently, it hovers in 13-15 percent on the higher side.
Meanwhile, as a next step to its recently launched '10,000 startups' programme, the NASSCOM, on Wednesday signed a MoU with Hyderabad Angels, TiE Incubator and IIIT Hyderabad Incubator to collaborate and support the creation of a vibrant ecosystem to foster technology entrepreneurship in India.
Mittal said that they are inviting of applications from innovative technology startups across the country for an insightful engagement with its accelerator and funding partners.
The Association has already received over 1,000 applications from various budding startups since the launch of the program and is expected to cross over 5,000 startup applications in the next eight weeks.