Once known for hiring hundreds of thousands every year, five of India’s top six information technology services companies reported a reduction of 73,600 in their total headcount in the last fiscal year. Is the backbone of the Indian economy weakening?
IT sector has never been the backbone of Indian economy. More than 70% indians are still working in agricultural sector. Engineering and IT was just an inflated industry that has too much supply now - thanks to our population.
Backbone in terms of spending power. IT employees are the biggest spenders on buying homes and other stuff that keeps the economy running. Remove them and it will impact consumer spending in a big way. Less consumers means less tax collection and less domestic growth. Otherwise most of the country is just surviving. Look at the per capita income.
No industry or company can survive forever right. Also, no, it's not in a free fall. But you cannot expect growth and growing profits every year. Of course some years will be bad
Since past few months we are observing decrease in the demand of services in Over the past few months, there has been a noticeable decrease in the demand for services in various frontend and backend technologies. Additionally, we are wit...
Saw a similar post somewhere from an European and I think it’s pretty valid for India.
For context, I am in my early 30s, a home owner, living in tier-2 city with a pretty high salary. Recently got married and my wife also works as an...
Great post, I was thinking to jot down something similar. The way I see is that our generation(I'm Gen Z), is f...
While some of this might correct as economy expands and enters into a dovish period (post rate cuts), few things will...
Yeah things are really bad in India. Even with this seemingly startup boom, there aren't enough jobs for all. The uni...
