Friday, October 14, 2005

A change of guard, TCS moves ahead of Tata Steel

This report in the Hindu Businessline, notes a change of guard in the largest employer in the private sector in India.

...INDIAN tech services companies are poised to become the country's largest employers in the private sector. The end of the second quarter this fiscal saw TCS crossing the 50,000-mark in employment with 53,329 people on its rolls.

"This makes us the largest private sector employer in the country," said Mr S. Padmanabhan, Head Global, Human Resource Development, TCS. In sheer employee numbers, this software services giant beat its group company Tata Steel which, with an employee strength of around 45,000 people, was hitherto the top employer in the country....

And it is not alone. Close on its heels (in almost every sphere are longtime rivals and competitors) Infosys and Wipro.

...Also perched on the 50,000-threshold are Infosys with 46,196 employees and Wipro with 41,911 people....

And another something to those who would immediately say that this has resulted in creation of a class of elite and that is not done nothing for the poor and so on.

...The services sector also boasts of another medallion in the form of indirect job creation at 1:1.5 ratio thus adding 75,000 new jobs to the economy for the 50,000 jobs that the tech company has created...

Multiply by 1.5, the official figure of a million IT workers in India (Nasscom estimates) and that is the rough number of indirect jobs created. The 1.5 ratio is also an understatement because the number of (in)direct beneficiaries of the wealth of the tech sector are many more. Landlors, bus drivers, cab drivers, cab companies, catering establishments, day care centers, outdoor training establishments, resorts, golf courses, caddies, car cleaners and I could go on and on...

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