Everyone from India might be aware of the current fiasco going on in the country with people from IT industry losing their jobs and everyone else losing their minds. Media is showing different figures everyday. According to them every month thousands of people are losing their jobs and situation is expected to worsen day by day. Ever since the news of TCS laying down 25,000 people came way back in late 2014, firing traditions have been at all time high in the industry. But the way people are reacting to it now, it seems as if this news has come as a surprise to many. But they do not realize that the Indian IT industry was already doomed to fail.
Back in early 2000, IT bubble was the most lucrative emergence in recent history. The Indian companies immediately saw a huge door of opportunity opening up and took the projects from American and European counterparts at much cheaper rate. Even they were happy to outsource their projects to make it more cost efficient. These companies soon realized there are abundance of projects in the market and not enough human resources. So what they did, went on a hiring spree. The Indian IT companies were in dire need of people to handle the projects rushing in from the west. But sadly there were not enough fresh engineering graduates well versed in computer sciences. So these companies started hiring graduates from other disciplines.
In the years that followed, many colleges opened to meet the increasing demand of engineers by these companies. Again the problem that came was lack of human resource. These colleges didn’t have a proper pool of lecturers to teach the young minds of the country. All of these mixtures proved to be ingredient of a really bad cocktail waiting to come out of your body the next morning in not a very pleasant way. Currently there are so many colleges in India manufacturing graduates yearly who are unemployable and are not even able to adhere to the pressure of the industry. Even in the industry there lies engineers from civil, mechanical and electrical streams working as software developers, while there lies some engineers from computer science domain working either in support or testing roles.
In spite of all these tragedies just waiting to happen, Indian IT has still not lost its charm. It’s not the situation that entire industry is just going to disappear from the country in coming years. What this industry is facing now is correction. The industry is merely correcting itself by removing the abundant and the excess from its shelter and retaining the only few that truly deserves it. The times of the Indian IT industry where people used to study engineering in any discipline and get a IT job might be over. But in no way the party has come to an end. All the money made by these companies will now go to skill development of their employees in the scope of new technologies that are going to stay for a while. And the people who adapt to these changes will be present to take this industry to a new high. Others will be forced to chose alternate careers for themselves.
It is not an end but merely a beginning of a new era for the industry. In the coming years the industry will regain all its glory except this time it will become much more valuable and respected than it was earlier. So all the people adrift in this fiasco should probably start looking for something different. Probably something they will enjoy and won’t feel like work.
Books of the post
Every post I publish I suggest some books related to the post. The following books can be a good read to think of alternate source of income.
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