IT industry on hiring spree, adds record number of employees in Q1

Around 85,000 employees added on net basis, highest in six years

The Indian information technology (IT) industry added a record number of employees in the April-June quarter (first quarter, or Q1) of the ongoing financial year, with around 85,000 new hires. This is the highest-ever net employee addition by the industry in a single quarter in six years, according to a recent report by equity research firm CLSA.  

Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment. This was supplemented by healthy hiring in onsite locations, triggered by stricter H1B visa regulations. 

According