TCS expects hiring spree in 2011

DAVOS, SWITZERLAND: Tata Consultancy Services (TCS), India's top software services exporter, expects to hire as many or slightly less than the more than 50,000 employees it hired in 2010 this year as the race for talent heats up in India's technology outsourcing business.

In an interview with Reuters, TCS chief executive N. Chandrasekaran also said there would unlikely be consolidation in the growing tech exporter business despite its fragmented nature.

TCS' clients include Citigroup and General Electric.

"We will not be acquiring in the near future," he said. "Valuations are still high.