Page 6 - It Sector News Today

Addressing IT professionals here on Thursday, he said,

Indian IT companies are back headhunting for senior roles. This and more in todays ETtech Top 5.

That’s despite employing more Australians than represented industries.

The share of IT sector in the gig economy nearly doubled, jumping from 22 per cent in March 2023 to a dominant 46 per cent in March 2024. This boom indicated a strong demand for skilled freelance coders, IT consultants, and other tech professionals.

IT sector consultants said that the conversation for FY25 is still heavily focused on more dilution of the bench, increasing automation, improving efficiency and targeted hiring mostly in niche areas such as AI and GenAI amid continued macroeconomic uncertainty and hardly any signals of demand recovery yet.

Addressing a panel discussion on "Taking India to the pinnacle of World economy - A Road Map" at the convention, Jain underlined the increasingly educated and skilled manpower in India for the worlds top technologies.

Shauryam Gupta, CEO - Rupeezy, believes that given that the market has factored in the prevailing political climate, an upmove seems more probable than a market correction ahead of elections.

Despite a sluggish year for IT globally, major Indian IT firms outpaced their international competitors in terms of revenue market share. ​​India-based companies added 36 basis points (bps) in revenue market share year-on-year basis though they lost 27 bps on a sequential basis, BNP Paribas said in a report.

While Februarys positive trend is promising, sustained demand momentum is necessary to declare a complete recovery.

Santosh Kumar Singh, Fund Manager at Motilal Oswal AMC, expresses concerns about those areas of the market which have shown sharp corrections and high valuations. He is bullish on auto components, technology in vehicles, and capital markets. He sees potential growth in certain sectors while cautioning about mid and small caps.