Layoffs going down in large US know-how firms could benefit the Indian IT sector and might bring a number of work to India, a US-based agency GlobalLogic CEO has stated.
“If Google, Twitter or Facebook or any of these customers actually lay off people in the US, it’s not that they don’t need to build products. They still need to continue to do their work and I believe that a lot of that work will come to India, because they will still need the talent to keep doing the work, although they will look for cost efficiencies,” GlobalLogic President and CEO Nitesh Banga stated.
Speaking to PTI, Banga stated that they’re trying to purchase skills in India and plans to develop its worker base by 25-35 per cent yearly.
”We hire close to 1,000 people a month. Out of that, 50 per cent is in India. So, we are hiring close to 500 people at any given point in time in India. Every year, the number will continue to go up by 25-35 per cent,” Banga stated.
“The kind of work that we do is very cutting edge, deep product development, be it embedded technologies, cloud, network or apps. What we do is very different from a traditional IT services company,” Banga stated.
” So, the equation is no longer about cost arbitrage, but it is about value arbitrage and skill and talent capabilities. There is a temporary slowdown in the war for talent. We do see this war for talent continuing to scale up for India,” he stated.
“There’s a number of collaboration that’s occurring throughout (with Hitachi) – whether or not you speak about Metaverse, or Web3, or digital provide chains, and so forth.
That’s one aspect of collaboration between our Research and Development (R&D) and theirs. But the opposite piece additionally is robust help for inorganic push. So, we now have large progress ambitions,” Banga stated.
” I believe that it can go even faster. But, if I look at just three years ago to the last few years, already, we are seeing like if the company is growing between 20 and 25 per cent, India has grown 5-6 per cent faster and it is going even further. That’s really the way we see it going forward,” Banga stated.
Banga additionally stated that India will not be going to see a lot of a slowdown whilst there are a number of layoffs occurring in the US.
(With inputs from PTI)
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