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IT companies to hire 2.3 lakh engineers this fiscal: Nasscom

Hyderabad: Fresh recruitment by the Indian IT and ITES companies will be around 2.3 lakh during the current financial year, a top functionary of Nasscom said on June 26.

BVR Mohan Reddy, chairman of IT and ITES industry body Nasscom, also said that the reported visa-related probe on TCS and Infosys by the US government is not "unusual".

"There will be intake in this financial year. Last year the fresh intake was 2.3 lakh engineers what we recruited. We anticipate the number would be roughly in the same range. We also see at this point of time productivity and efficiency increase and more amount of automation took place. The current forecast is approximately the same as an intake from freshers," Reddy said at a press conference.

On the industry growth expectations, Reddy said they would take a call on reviewing of growth projection in February during Nasscom Leadership Summit.

To a query, he said the Nasscom does not see anything unusual in the reported probe on TCS and Infosys and vouched that the Indian companies are 100 per cent regulatory complaint.

"If you look at regulators and the regulations around the world, they will constantly keep targeting whether the regulations are followed or not...So there will be audits done from time to time...So these are not something we feel that are unusual at this point of time," the Nasscom head said.

"And given the type of compliances that the Indian companies have done and the transparency that they have shown, Nassscom and also member companies which are involved in the H1 visa process uses are pretty confident that there is 100 per cent compliance with regulatory issues," he said.

According to the US media reports, the Labour Department there has opened an investigation against TCS and Infosys for "possible violations of rules for visas for foreign technology workers under contracts they held with an electric utility Southern California Edison.

On the market situation, Reddy said there is "softness" in some of the European markets.

According to him, regions such as Germany, UK and France are doing well, though the situation in Greece is a "cause of concern."

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Tags: ITES Nasscom TCS