Hyderabad software industry is battling a gamut of challenges as it gears up to trim the headcount. The companies have decided to reduce the bench strength, shrink new hiring and slower exports growth. The duration of the bench is also hovering at 2 months as against 6-12 months.
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According to Nasscom, there will be a decline in the new recruitments up to 10-15 percent drop in net hiring in Hyderabad software industry this fiscal. Nasscom also predicted a drop in net hiring by 40,000 to 1.3 lakh this fiscal from 1.7lakh last fiscal.
It has also predicted the slower growth rate of 7 percent in FY18 as against 8-10 per cent in FY17. However, the software exports growth in Hyderabad is also expected to be higher than the national average due to major reasons such as affordable space availability, which is better than Chennai and Bengaluru. Connectivity is better and Hyderabad has a huge talent pool.
