Decrease in IT jobs

Recently, Indian job market has seen major decrease in formation of new jobs because of shrinkage of jobs in major sectors like IT. Indian IT companies mostly depends on major western markets for their revenues. However, economic slowdown in these countries has decreased profits of Indian IT companies. Therefore, we are seeing major shrinkage in jobs in IT in India. Many IT companies are cutting jobs to remain profitable. However, most of IT companies are optimistic of reviving this situation soon. These kinds of situations can put lot of effect on India because India is one of the biggest IT job providers across the world. IT companies have lots of hopes from today’s budget to get some reliefs from government to save some taxes. It is also important for Indian government to provide some relief to IT companies because IT companies can provide large numbers of jobs.