IT hiring in India has witnessed a roller-coaster ride in the past few years, from a boom in 2021 and early 2022, to a bust in 2023 and early 2024, and to a possible recovery in the near future. The demand and supply of IT talent in India has been affected by various factors, such as the global pandemic, the digital transformation, the economic slowdown, the geopolitical tensions, and the innovation and competition in the IT industry. Here are the details of the news and its implications for the industry and the job seekers.
The Boom Phase: 2021 and Early 2022
The IT hiring in India reached a peak in 2021 and early 2022, driven by the surge in demand for IT services and solutions from the global clients, especially in the US and Europe. The Covid-19 pandemic accelerated the digital transformation and the adoption of technologies such as cloud computing, artificial intelligence, data analytics, and cybersecurity, creating a huge opportunity for the Indian IT companies to offer their expertise and solutions. The Indian IT industry also benefited from the favorable exchange rate, the government incentives, and the availability of skilled and cost-effective talent.
According to NASSCOM, the Indian IT industry grew by 8.4% in FY 2022, reaching $226 billion in revenue, and employing over 5 million people directly. The industry also added over 2 lakh net new jobs in FY 2022, the highest in six years. The IT hiring was also robust across all levels, from freshers to experienced professionals, and across all domains, from software development to testing to support. The IT companies also increased their salaries, bonuses, and incentives, to attract and retain the best talent.
The Bust Phase: 2023 and Early 2024
The IT hiring in India witnessed a sharp decline in 2023 and early 2024, due to the uncertain and challenging demand situation in the global markets. The IT spending by the clients slowed down or postponed, due to the factors such as the high interest rates, the inflation, the economic slowdown, and the geopolitical tensions, such as the Israel-Hamas and the Russia-Ukraine conflicts. The IT companies also faced the issues such as the margin pressure, the talent shortage, the attrition, and the competition from the other players, such as the global IT firms, the Indian startups, and the captive centers.
According to Xpheno, a staffing firm, the collective headcount at the top 8 IT companies in India fell by over 17,500 in the December quarter of 2023, compared with the previous quarter. The data also indicated that the total staff count at these companies was down by 75,000 in a year, marking the sharpest fall in six years. The IT hiring was also sluggish across all levels, from freshers to experienced professionals, and across all domains, from software development to testing to support. The IT companies also delayed or reduced their salaries, bonuses, and incentives, to protect their margins.
The Recovery Phase: The Near Future
The IT hiring in India is expected to recover and resume in the near future, as the demand for IT services and solutions picks up again in the global markets. The IT spending by the clients is likely to increase, as the factors such as the interest rates, the inflation, the economic growth, and the geopolitical stability improve. The IT companies are also likely to invest and innovate in the emerging technologies, such as the 5G, the blockchain, the quantum computing, and the IoT, creating new opportunities and challenges for the IT industry.
According to NASSCOM, the Indian IT industry is projected to grow by 10.5% in FY 2025, reaching $250 billion in revenue, and employing over 5.5 million people directly. The industry is also expected to add over 2.5 lakh net new jobs in FY 2025, the highest in seven years. The IT hiring is also expected to be strong across all levels, from freshers to experienced professionals, and across all domains, from software development to testing to support. The IT companies are also expected to restore and increase their salaries, bonuses, and incentives, to attract and retain the best talent.
![gain Rise in Gold Rate in India After Falling Rs 21,200/24K; Will Gold Price Today Jump or Drop on 28 March? By Harshika Yadav Published: Saturday, March 28, 2026, 6:55 [IST] preference Add as a preferred source on Google Gold rates in India witnessed a modest recovery on March 27, 2026, after a sharp fall in the previous session, indicating a cautious stabilisation in the bullion market. The yellow metal had dropped by Rs 212 per gram (or Rs 21,200 per 100 grams) of 24 Karat (24K) earlier, but managed to regain some ground. Gold Price Updates as US-Iran Tensions Ease; Pakistan, Turkiye & Egypt Step Up Mediation Efforts The rise in yellow metal follows easing geopolitical concerns after US President Donald Trump signalled a delay in potential military action against Iran's energy infrastructure by 10 days, pushing the deadline to April 6. This development, along with ongoing diplomatic efforts, has helped support safe-haven demand. gold Rate Today Further adding to market sentiment, Pakistan's Foreign Minister Ishaq Dar confirmed that Islamabad is acting as an intermediary between the United States and Iran, relaying messages as part of efforts to de-escalate tensions. Countries like Türkiye and Egypt are also reportedly supporting the mediation process, offering some relief to global financial markets. Gold Rate in India: Check Latest 22K, 24K & 18K Gold Prices Per Gram 24 Karat Gold Rate Today in India In the 24 Karat segment, at the time of writing, the rate for 1 gram stood at Rs 14,471, rising by Rs 16 from Rs 14,455. For 8 grams, the price increased to Rs 1,15,768, up by Rs 128. The rate for 10 grams climbed to Rs 1,44,710, reflecting a gain of Rs 160, while 100 grams of 24 Karat gold were priced at Rs 14,47,100, marking an increase of Rs 1,600. 22 Karat Gold Rate Today in India The price of one gram of 22K stood at Rs 13,265, gaining Rs 15 from the previous session. For 8 grams, the rate rose to Rs 1,06,120, registering an increase of Rs 120. The cost of 10 grams advanced to Rs 1,32,650, up by Rs 150, while 100 grams were priced at Rs 13,26,500, reflecting a gain of Rs 1,500. 18 Karat Gold Rate Today in India The rate for one gram of 18K stood at Rs 10,853, up by Rs 12. For 8 grams, the price moved up to Rs 86,824, marking a gain of Rs 96. The rate for 10 grams climbed to Rs 1,08,530, increasing by Rs 120, while 100 grams were valued at Rs 10,85,300, reflecting an uptick of Rs 1,200. Latest MCX Gold Price In the domestic futures market, gold on the Multi Commodity Exchange (MCX) held firm above the Rs 1,44,500 level as per latest trading record, supported largely by the weakness in the Indian rupee, which continues to cushion local prices despite global volatility. Latest Spot Gold Rate The rebound in domestic gold rates comes alongside a recovery in international markets, where gold moved above the $4,400 per ounce mark. What Lies Ahead for Gold Prices? Check Gold Rate Prediction Jateen Trivedi, VP - Research Analyst (Commodity and Currency), LKP Securities, said, "Gold remained slightly positive, trading above $4,425 with highs near $4,475, supported by initial optimism around US-Iran talks. However, the sharp rise in crude continues to signal underlying market stress and inflation risks." From a technical perspective, he explained, "Technically, support is seen near Rs 1,42,000, while resistance is placed around Rs 1,46,500. Overall, gold is expected to remain volatile with limited upside unless clarity emerges on inflation and geopolitics."](https://keralanews247.com/wp-content/uploads/2026/03/rupee-and-dollar-scaled-120x86.png)
