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'Addl IT personnel requirement could be down by 50K in FY14'

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.

India's IT sector to touch Rs 1.75 lakh cr by 2016: BCG-CII

"The domestic IT industry is expected to grow at 12 percent over next 4 years, reaching a size of Rs 1.75 lakh crore by 2016, driven primarily by the services and software segments," the BCG-CII report added.

'Hiring activity in IT sector likely to be muted this year'

Industry-body Nasscom expects a rise in global technology spending and opportunities created through adoption of disruptive technologies to propel growth in FY 2014.

Indian insurers to spend Rs 10,100 cr on IT in 2013: Gartner

This forecast includes spending by insurers on internal IT (including personnel), hardware, software, external IT services and telecommunications, it said.