This is by far the best news of 2010 for India. I was overjoyed when I read this in the newspaper today. Economy has showed signs of reviving in the developed countries such as the UK and the USA.
Following this development, Software and BPO companies are on a spree to recruit over a lakh engineers all over India for matching the growing requirements.
This figure of hiring 1 lakh engineers is not new to India. Until 2007, industry gave employment to atleast a lakh and half every year. Owing to the deep recession hitting the west, recruitments had got stalled in the year 2009. However, relatively few people were fired from their jobs in 2009. Indian job market was in contrast to the job market in the developed countries where the unemployment rate shot upto 18.5%.
This news means a lot to the fresh graduates about to pass out in 2010. I personally spoke to many students who totally lost hopes on IT industry. They wanted a stable and secure job, so they preferred to join a Government agency or work for a core engineering job rather than computer job. There is a lot of hope also to the unemployed students who belong to the batch of 2009 passouts.
Is this an attempt to replace the high paid experienced programmers with a bunch of inexperienced ones? Discuss below in comments.
About the Author: Sridhar Jammalamadaka is the Editor of Interview Mantra. He's a typically non-typical Software Engineer from Pune, India. He likes entrepreneurship, web technologies and Micro Controller programming. He enjoys playing cricket and piano (but rarely does these activities). Through this website, he wishes to gather a large community of aspiring engineers, entrepreneurs and professionals from all parts of the globe. You can connect with him on Facebook - http://www.facebook.com/sridhar.j