Domestic mkt can compensate IT job losses overseas: Assocham

The Indian IT sector, which has been facing visa woes in countries like the US, can create more jobs in the domestic market by engaging in government's financial inclusion programmes like Jan Dhan Yojana, industry body Assocham today said.
"It is time our IT and BPM industry bellwethers looked a bit inward now. It is also time to redraw strategy that gives a good look at the home market, which can more than make up at least in the short to medium term," Assocham said in a statement.
The Indian IT-BPM industry employs about four million young workforce in the country in over 16,000 companies, it estimated.

The chamber added that programmes like Jan Dhan Yojana would open up opportunities in segments like analytics, which can then be used in other industries.
Assocham Secretary General D S Rawat said lakhs of new jobs can be created, which would more than make up for the possible losses on account of upheavals in the global markets.
The industry body cited factors like huge Internet base (400 million) and increasing adoption of digital payments that will further fuel the growth of technology uptake in the country.