There has been a 10% increase in the overall hiring requirements in July compared to last month, signaling good news for the IT sector and some pick-up in demand in the coming quarter after a long lull.
IT Hiring: The growth in headcount, however, will only be reflected in the October-December quarter, said experts. The increased demand is led by companies having better visibility of demand. Despite the pick-up, the rate of recovery is still slower than anticipated, and significantly lower than the peak demand witnessed in 2021, they added.
The tech hiring in the IT sector has shown green shoots of demand in July, with a 10% increase in overall hiring requirements compared to last month, according to staffing firms. The increased demand is driven by companies with a better visibility of demand, with GCC and ER&D demand flow remaining stable. Experts said that the growth in headcount will reflect in the October-December quarter.
The e-commerce sector is also doing well due to a multitude of reasons. The widespread adoption of smartphones, increasing internet penetration, growing access to digital payment systems and the government s push towards digital transactions have all boosted this growth. The Indian government s efforts to create a more business-friendly environment and promote foreign investment in the country have also contributed to the sectors growth.