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From TCS to Infosys: 4.5 lakh IT jobs up for grabs in India in 2nd half of FY22, says report

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The top five IT firms -- Tata Consultancy Services (TCS), Infosys, Cognizant, HCL Technologies and Tech Mahindra -- are hiring more than 2 lakh freshers.

From TCS to Infosys: 4.5 lakh IT jobs up for grabs in India in 2nd half of FY22, says report
The IT services sector in India will see an addition of nearly 4.5 lakh jobs in the second half of this financial year, said a report.
According to a report by market intelligence firm UnearthInsight, the industry will witness higher attrition in the second half at 17-19 percent, but will have a net employee addition of around 1.75 lakh people during the period.
Compared to the first half, the industry will see an addition of around 12 percent more employees in the second half of the year, the report said.
“The IT industry’s perceived ‘war on talent’ is real and it’s getting intense with attrition a rising concern for the industry. It’s crucial for the industry to focus on employee value proposition (EVP) even more aggressively to keep attrition in check,” Gaurav Vasu, Founder and CEO of UnearthInsight, said.
In the first half of the fiscal, top IT firms developed a robust infrastructure to support initiatives on the digital format, delivering upskilling programmes online, Vasu added.
Freshers in demand
So far in this fiscal, nearly 2.50 lakh freshers have been hired by more than 30 IT services companies in India, the report said.
The top five IT firms — Tata Consultancy Services (TCS), Infosys, Cognizant, HCL Technologies and Tech Mahindra — are likely to hire more than 2 lakh freshers.
Attrition in the second half is expected to be 17-19 percent of the last 12 months, which will come down in the next fiscal to 16-18 percent. This is because supply-side challenges that are driving attrition in the industry are expected to normalise in the next financial year.
According to Unearthinsight, cloud services will garner revenue of around $80-100 billion for the IT services industry by 2030.
The software product and platform business will generate $15-20 billion revenues by 2030 for top tier IT services firms, Unearthinsight said.
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