IT largest employer

This is for all those who claim that the IT sector just skims the surface of the “real” Indian economy and provides jobs only to a handful of Indians.

New estimates say the Indian IT sector is expected to overtake manufacturing as the largest employer in the organised sector. According to Manish Sabharwal, Chairman, TeamLease, a leading staffing solutions provider, the IT and ITES sectors will employ about eight million people by the end of this year, compared to around seven million in organised manufacturing. “Employment in organised manufacturing has been on the decline for the last couple of years,” says Sabharwal.

A large number of these employees are engineers with non-IT specialisations, who have still chosen to work for infotech companies because of the higher pay packets and glamour quotient. As a result, many engineering and infrastructure companies, like L&T, for example, are unable to recruit top-rung talent as they are unable to match the compensation packages offered by the IT sector.