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US slowdown turns advantageous for IT firms

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CIOL Bureau
Updated On
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Aswathy V

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THIRUVANANTHAPURAM: Some IT firms in Technopark are finally reaping the

benefits from the US slowdown. What with these firms now going in for a major

recruitment drive for middle and senior level software professionals from

Bangalore and other major IT destinations.

Among the firms in Technopark which have commenced or in the process of a

recruitment drive for middle and senior level IT staff include: Suntec

Corporation, US Software, Case Consult India Pvt Ltd.

"Earlier it was difficult to get senior and middle level people because

salaries and incentives could not be matched with those provided during the

software boom period. Now the US slowdown has become advantageous for us and

professionals are now available at reasonable rates," president and CEO of

Suntec Corporation K Nandakumar said.

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Recently, the firm had published advertisements in a leading national daily

seeking the services of software professionals and the initial response was very

encouraging, Nandakumar said. A year ago it was very difficult to get good

middle-level professionals to come to Technopark, he said. Even engineers who

had returned from the US have sought entry into Technopark firms, sources said.

US Software, a leading firm promoted by the NRI group Chanderias also

recently recruited over 27 middle level professionals from Bangalore. "We

have been able to recruit at middle positions because our projects have not been

affected by the slowdown," of US Software COO, Murali Gopalan said. Case

Consult India is also planning to recruit over 25 middle level professionals,

according to, managing director, Ajit P Nambissan.

Technopark companies have been insulated from the adverse impact of US slow

down because most of them had projects in Europe, Japan and the Middle East.

Only a few firms were fully dependent on the US markets that too were on a

project basis. Therefore, compared to other IT destinations the impact of US

slow down has been minimal in Technopark, Ajit Nambissan said.

Technopark firms achieved a turnover of Rs 75 crore as on March 2000. This is

expected to double to Rs 150 crore as on March 31 despite the recessionary

conditions in the IT industry, according to top officials in Technopark Society.

However, the final results are yet to be announced, the officials added.

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