Now they are the Largest Employers!
Date: Tuesday , January 31, 2006
In the last three-four years the IT and ITeS companies have come up as the country’s largest employment generators in the private sector. According to the apex body of the IT industry Nasscom, at present more than a million people are working in the IT industry.
The industry has grown at a cumulative annual growth rate (CAGR) of 23.6 percent from 242,000 in 2001-02 to 697,000 in 2004-05. While, the ITeS-BPO sector has a CAGR of 52.6 percent.
By the end of the second quarter of 2005-06, TCS crossed the 50,000 mark in headcount. At present TCS has the staff strength of 53,329 people.
Though the IT sector generates more employment there are still certain areas such as data management, enterprise application integration, data warehousing, which require more attention from industry bodies and the government.