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The Indian IT staffing market is poised for strong growth in the next five years with revenue to reach Rs 10,000 crore (approximately €1.4 billion), according to experts in the industry.
“Temporary staffing is fast emerging as a key hiring strategy for Indian companies. The government should give proper recognition to the staffing industry,” said Mehul Shah, managing director and head of professional services (India and the Asia-Pacific) at Collabera.
US-based Collabera is an IT specialist and the 92nd largest staffing company in the world, according to Staffing Industry Analysts’ research.
“The size of IT staffing in India is estimated to be worth Rs 1200 crore (approximately €173.5 million) which is still a far cry from the estimated US IT staffing market worth US$ 22 billion. Presently, temporary staff is hardly 1% or 1.5% of the total labour force of any company's strength in India. But it will grow up by around 40% every year,” said Mr Shah.
Mr Shah, who is also a board member of the Indian Staffing Federation (ISF) representing recruiters in the country, said that IT will grow rapidly.
“Temporary workers account for 10% to 15% of the actual employee base of leading IT companies today against 2% to 5% a few years ago. This share is expected to go up to 20% to 25% in the coming quarters,” he said. According to him demand for temporary staffing by technical providers will increase by 40% to 45% in the next few years.