Indian tech firms continue hiring despite economic slump

Wipro has onboarded double the number of freshers in FY22 as of FY21

May 20, 2022

Firms like Facebook, Netflix and Twitter stated that they are freezing their hiring process.

Indian firms such as Wipro and Flipkart will continue to hire and retain new talent across various job roles.

Ed-tech startups that received increased funding during the pandemic are now recoursing to cost-cutting to sustain their businesses.

The Indian IT industry is expected to continue to hire talent with digital skills to stay ahead of future tech transformations.

With global IT firms going slow on their hiring process, industry experts believe that the Indian IT industry will continue to recruit resources. Even as global firms such as Facebook, Netflix and Twitter state that they are freezing their hiring process, Indian tech giants such as Wipro and Flipkart have announced that they will continue to hire and retain new talent across various job roles. However, as an increased number of firms in Silicon Valley have traditionally hired talent from India, it is anticipated that the current hiring freeze will not last for an extended period. Wipro plans to hire 30,000 freshers in FY23 – more than double the number the firm hired in FY22. The company believes that the digital transformation over the pandemic has increased the demand for talent. Similarly, Flipkart also stated that it will continue hiring as per its requirements, including campus hiring.

While looking at the number of startups laying off their employees, experts believe that ed-tech startups were receiving funding due to the rise in digital education brought about by the pandemic but are now recoursing to cost-cutting to sustain their businesses. 

A few industry experts are of the opinion that with the current demand momentum and India’s position as a global digital hub, the Indian IT industry will continue to hire more talent with digital skills to stay ahead of all the future tech transformations that will be necessary going forward.