By Koreel Lahiri 

Recruitment firm Korn/Ferry says recruitment in the tech sector in India, is growing rapidly and attracting professionals from around the globe. 

With India shining even the job market is looking up. Indian tech companies have set aggressive recruitment targets this year. This, combined with many MNCs like Accenture and EDS setting up shop in India, is pushing up demand for professionals.

Recruitment firm Korn/Ferry International's Asia Pacific president Charles Tseng told CNBC-TV18 that recruitment in the tech sector is growing rapidly, especially in India. He said, "It started off in North America, but India is one of our fastest growing offices globally in the tech sector... We are starting to see global movement of people. The movement of NRIs back to India is a very important sign. The movement of expatriates to India is a key sign."

He pointed out that during the dotcom period there was a flow towards Silicon Valley. But now, businesses are moving to India, and that is attracting quality individuals from US and other places. But this could mean higher wage bills for companies, as NRIs and foreign nationals would definitely not like to compromise on their salaries. But Tseng said, "At senior levels, salaries are moving into a band, and there is a global band. There is some consistency globally."

More than 2.8 lakh IT jobs are likely to be added this year. Already, there are 6.5 lakh IT professionals in India. Big Indian firms like Infosys and Wipro have large recruitment targets this year. Also, Accenture plans to double its Indian staff strength to 10,000 this year, while IBM is planning to move about 5,000 jobs to India and China.

Tseng added that recruitment is an indicator of economic growth. "Companies need to be confindent about the economic environment, and they need to feel good. When that happens, recruiting begins," he pointed out.

But with IT MNCs setting up shop in India, it could also mean a pressure on the market, as they would tend to attract the better talents. But Tseng feels that the impact would be limited. He explained, "It will put pressure on companies that are not professionally managed. Their ability to attract professionals will become that much more limited because professionals have more places to go. Earlier, talent used to go where the jobs were, now companies go to where talent is. That puts pressure on companies which are not professionally managed."

Source: moneycontrol.com