"I don't think there has been any stagnation in hiring activities in the Indian IT space. Seven years ago, we were six-seven thousand people and today we are 85,000," Tech Mahindra Vice Chairman Vineet Nayyar said here.
Asked when Tech Mahindra would reach the 1-lakh mark, he said: "Its a matter of a year or so. I don't see it as a very big deal."
Nayyar, who was here for the World Economic Forum (WEF) Annual Meeting, told PTI in an interview that India's IT story is not over, but its nature would evolve depending on the changing needs.
"The fact is that skills are in India and those skills are needed. There would be drafting of new needs, which would be overlaid by the new technology that would evolve and those needs are not going to go away.
"So, as far as I can see, the Indian technology story is not over and in fact it will strengthen further because increasingly India is becoming an epicentre for its evolution and growth," he said.
When asked about hiring trends in the IT sector, Nayyar said he does not think there has been any slowdown in hiring and every passing year all firms have been hiring more people.
"I am sure that IT will create huge employment going forward too and then you should understand that for each job in IT, you create at least three additional jobs and most people say it is an under-statement. So, net-net on employment side, I am fairly bullish," he added.
Talking about the emergence of new markets for Indian IT companies, Nayyar said the technological needs are going to increase globally, because technology has become so pervasive in everyone's life -- from a child of 2-3 years to all of us.
"When needs arise, the responses would come and capabilities would evolve and it so happens that there is a huge abundance of young and bright people in India and all these people make a unique talent base, which I don't think is replicated elsewhere," he said.
On the trends seen in the clients' IT spending budget, Nayyar said, "They have no choice because need for technology is growing and it pervades the entire company now from the top to the bottom.
"People have no choice but to increase their technology budget, specially if they want to compete, if they want to control costs and if they want to be competitive," he said.
Asked about the spate of leadership changes among Indian IT companies, Nayyar said there was nothing to worry about.
"We are all professional people and hopefully each leader who has gone has created enough leadership skills at lower levels," he added.