Tuesday, December 13, 2005

IT Industry biggest Challenge

A recent article in New York Times has reported that India is going to face an acute shortage of Engineering talent required for its IT industry.

Its not just the IT talent which is going to be in short supply ,also highlighted is the fact that we are going to short of current hot spots for IT industry which has the majority of these industrial units. The fact that congregation of huge workforce requires scaling up of infrastructure and other basic facilities is largely being ignored till date.

"India's information technology industry faces a shortfall of 500,000 professionals by 2010 threatening its dominance of global offshore IT-services, warns a report to be published this week by business consultancy McKinsey and Nasscom, India's leading IT association.

The prediction comes as multinationals, such as Microsoft and JPMorgan, increase their presence in the world's largest offshore services industry, adding to labour-market pressures caused by a widening mismatch between the supply and demand for technology talent.

The "war for talent" is one of the most striking signs of the success of India's offshore IT sector. It expanded by about 30 per cent from 2003 to 2005 and is expected to grow by at least 25 per cent a year over the next five years, sustaining the county's rapid economic growth."
To read the complete article here.

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