Title: Indian IT Sector Faces Prolonged Slowdown as Global Tech Spending Woes Persist

The Information Technology and Services sector in India, comprising major players like Tata Consultancy Services (TCS), Infosys, and Wipro, is anticipated to face an extended period of sluggish growth over the next two to three quarters, according to Sekhar Garisa, CEO of foundit (formerly Monster). In an interview with Financial Express (FE), Garisa indicated that the subdued hiring trends in IT are likely to persist, attributing the decline to various global and macroeconomic factors.

Garisa emphasized, "We see that the softness in IT hiring will continue at least for the next two quarters. That doesn’t mean that hiring isn’t happening, it means that the hiring is happening at a number which is much lower than before."

The prevailing slowdown is linked to a global economic deceleration affecting tech spending worldwide. Indian IT giants responded to this downturn by scaling back their hiring initiatives in the current fiscal year. Additionally, a cautious approach from clients toward discretionary spending due to a subdued macroeconomic climate contributed significantly to the hiring pullback.

"Before the slowdown set in, IT companies hired employees in large numbers," Garisa commented, highlighting the stark contrast in hiring patterns pre- and post-global economic challenges.

Moreover, Garisa underscored how recent technological advancements have influenced job demands, stating that the advent of technology has curbed the necessity for certain roles, such as designers and content writers, as automation and AI have streamlined these tasks.

With the proliferation of AI-driven innovations like ChatGPT, leading job platforms like Naukri and LinkedIn have integrated AI-based tools into their systems. These functionalities assist users in creating more effective job searches and even drafting personalized emails for job applications, the report mentioned.

Foundit, a part of Quess Corp, has also integrated AI-based capabilities to aid candidates in crafting tailored emails. Garisa elaborated, "We also use generative AI to plug in the right contextual synonyms so that the recruiter doesn’t have to remember all the different variations of the same job title or skill while searching for candidates."

The evolving landscape, marked by technological advancements and a cautious economic climate, is reshaping the hiring strategies within the Indian IT sector. As the industry navigates through these challenges, a recalibration in hiring trends and skill demands is anticipated to continue in the near term, reflecting the adaptation to the changing technological landscape and global economic conditions.