Economic Slowdown in West to Impact Work Opportunities:IIFT
Monday, 12 September 2011, 16:32 IST
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Economic Slowdown in West to Impact Work Opportunities:IIFT
MUMBAI: The Indian Institute of Foreign Trade (IIFT) is apprehensive about the deepening slowdown in Western markets having an impact on the domestic jobs market, even though requests from domestic companies for campus interviews at the institute have risen so far this year. The looming slowdown may prevent companies from expansion and launching more products, which would in turn shrink the jobs market, IIFT Director KT Chacko said, adding that most B-school students were not looking for working abroad. Last year, only 15 per cent of IFFT students were hired by foreign companies to work abroad, he said, adding, "Moreover, nobody wants to work overseas." "I am afraid the not-so-promising economic outlook has led to a situation where companies are not keen on sourcing more products and talent," Chacko told PTI. When asked specifically whether IIFT, which is a deemed university and one of the top management schools, has assessed the gravity of the situation arising from the talks of a double-dip recession in the U.S. and some of the leading European economies, Chacko answered in the negative, saying it was too early to take a call. "We need to see (whether) the recent drop in hiring is going to be a trend. If it lasts for a few more months, then obviously there is room for worry. We have to watch out for two-three months to arrive at a conclusion," he said. Chacko was, however, quick to add that at the IFFT, "We have got more requests for campus interviews this year already."
Source: PTI
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