The IT services sector in India created more than 500,000 new jobs in fiscal year 2022, doubling the earlier projected net growth of its active workforce for the fiscal year, reports The Economic Times, citing data put together by staffing firm Xpheno. The job creation was led by Indian IT services marquee brands such as TCS, Infosys, Wipro, HCL, Tech Mahindra, L&T Infotech, and others. The top four companies, TCS, Infosys, Wipro, and HCL, together net added about 243,000 jobs. “Majority of the net additions continues to be with the fresher recruitment that this sector traditionally does to build capacity for servicing future businesses,” said Anil Ethanur, Co-Founder, Xpheno. “The expansion hiring trends seen are encouraging as job creation in key manpower sectors is directly beneficial to the fresh graduates entering the workforce.”

Experts said the demand for digital talent will continue unabated at technology services companies this year too as attrition continues to be high while at the same time business growth is leading to the need for more people.