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Bangalore, Nov 19 : Indian software and services industry’s apex body Nasscom reiterated that while the country’s outsourcing industry would face a slow growth, it would not shut down as a result of the global economic melt down. Addressing the media, Nasscom President Som Mittal allayed fears of massive job cuts in the industry owing to lean business pipeline.
Mittal said, “We are integral part of the customer today. If it (Indian IT industry) shuts down, it will only impact the customers and this will not happen. So services will continue to fuel growth.” He added, “Our fundamentals are very strong. Slowdown will only reduce the rate of growth of the industry. Commitments in the long run will continue.”
Massive job cuts in the industry would not happen, as a major chunk of the work force performed critical functions that could not be removed. “Of the total workforce 92% to 93% in IT and ITeS sectors add value to the customer and hence they cannot be removed. We (the software industry) were a big hirer and we continue to be,” Mittal said. On a net basis, hiring would be slower, owing to relatively lower attrition rates and a preference for project-based hiring within the industry.
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