Outsourcing boom: TCS to hire 32,000 people
Financial Express — April 18, 2007

India's top software exporter, Tata Consultancy Services, plans to hire over 32,000 people in the current fiscal year as it rides on an outsourcing wave, an official said on Tuesday.

"Last year, we added 32,000. Definitely we are looking at 32,000 and more, and we are still working out the actual number," S Padmanabhan, executive vice-president for human resources, said.

The company, part of India's salt-to-software Tata group conglomerate, has already made offers to 12,000 people at various engineering institutions, he said.

Tata Consultancy's nearest rival Infosys Technologies last week said it planned to add 23,000 employees, including 10,000 for its back-office services unit, in 2007/08.

Indian software services firms have been thriving on a worldwide outsourcing boom as companies try to cut costs at home.

A large pool of English-speaking engineers and low wages have helped them attract outsourcing deals over the past decade in India, which churns out about 350,000 graduate engineers and 2.3 million other graduates every year.

But wage inflation and high attrition rates are a concern for services firms in India, where demand for programmers and IT specialists is fast outstripping supply.

Padmanabhan said Tata Consultancy would also increase the hiring of non-Indian professionals, who currently account for 9.6 per cent of its total workforce of 89,419, as it expands its overseas presence to boost business.