In the previous entry, I wrote about the continuous growth in the software industry of India. Indian software industry is likely to have $60 billion of export income by 2010. Many international companies are making India as their software development and R&D hub and even Indian IT companies are witnessing a healthy growth in the recent time. While everything seems to be bright, shortage of talented workers is becoming a major concern for the industry leaders. Indian IT sector had gigantic success because of the fact that India could provide skilled professionals at a much cheaper salary than the west. Now nearly 1.3 million people are employed in this industry and this year 300,000 new jobs are expected to be created by the local and foreign IT companies.
Software is a field where only skilled people can survive and it seems that India has almost reached to the point exhausting its pool of talented workers. Now, USA is also increasing its H1B visa quota. So, it will put more strain on the human resources for the Indian IT companies. So, naturally, Indian companies are trying to get the talented people by paying higher wages and this year, salaries are supposed to rise 15% on an average in the IT sector. Fortunately, the companies would not suffer much at this moment because of falling telecommunication expenses.
Indian government and NASSCOM should take this issue very seriously from now. They must think of improving the standard of education and also the quality of training.
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