What’s driving the modest IT hiring pickup? Hint: not the IT companies

In this episode, Kamal Karanth, co-founder and CEO of Xpheno, a staffing firm in Bengaluru, explains the modest increase in open IT positions in recent times. Consider that in FY22, the IT sector alone hired some 2,30,000 people, net, according to the industry lobby Nasscom. That fell to 60,000 in FY23 and FY24 was about the same. Not much has changed yet for the IT giants, but non-tech companies rooted in India’s economy, as well as a new wave of global capability centres are hiring, Karanth says.