| Topic : Impact of Recession - IT Cos Vs Engineering Cos |
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Activity:
Question posted: 02 15 2009 09:35:31 +0000,
7 answers, 2773 views, last activity
07 06 2010 20:18:08 +0000
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Let discuss the impact of Recession on IT and Engineering Industries. Which is more impacted ?
I beleive almost every industry who has a major revenue share in exports or dependance in foriegn markets are impacted. If you look at IT, those who are completely focussed on Indian market also impacted due to their customer who has exposure to foriegn market has deffered their deciscion/plans etc.
In this age of Globalization all businesses are impacted, the engineering is no different from others.
the industry which is totally dependent upon exports sales is most affected by liquid crunch.
I think most affected industry is BPO,manufacturing units,banking sector,realty sector.I hope recesession will be over in mid 2010.All industries are smoothly running in 2011.If govt.can make strong option so recesession will go very soon.
Affecting can be meausres in two way firstly Directly and other is Indriectly. It have been affected directly . But Engineering wiill be afected indriectly.
I would think that every Industry is affected and especially those with lot more exposure to developed economies of US, Japan & Europe. However, between IT & Engineering in India, it would appear that IT is more affected than engineering because of this fact.
I beleiveIT is a very dynamic industry and even after 20 yrs in India we do not have and standards for salary. The industry is not yet matured.
Recrutment is totally depend on the need and if companies want resource then that time they are ready to pay anything just to attract the resource. I think during recession people with more pay are in problem. Increasing the living standard is easy but coming back is bit tough.
Because of IT industry real state rate went up very high, a normal IT guy is having loan of atleast Rs 50 Lack. So the bank industry is also involved in the recession.
Almost all fresh engineering graduates, irrepective of streams were getting into IT. Because of recession the recruitment will go down and it can create a problem of unemployment in the country.
If IT giants wont be able to handle this recession then definitely country will have bad impact of it.
According to me IT is more affected than anything else just because this is the industry which is seeing more job cuts than ever before and due to there is no work or project that is being outsourced due to the crisis, and pink slips are the trend that is going now in the IT, so IT is having a major impact with recession.
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