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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Is Indian market, specially IT, facing structural issues? Anand Tandon explains
Anand Tandon, Independent Analyst, says while two lakh people are being added to the IT workforce every year, not that many will get jobs going forward, and some of them will get slowly laid off. Tandon says that the problem is not receiving enough attention and it is not a cyclical issue. It is a structural problem. India needs to find another industry which can grow in the same way.
Tandon also says at the end of the day, markets are cyclical and market participants have to realise that.
Give us your take on the markets. We are seeing a bit of recovery; the broader markets are also participating in this. What is looking interesting to you right now?
Anand Tandon: Yes, the market is looking a little oversold and therefore it is possible that you will get a mild recovery. I would hesitate to rush in to buy though. There are structural problems in the Indian market now, primarily among them the IT sector. You have to remember that for the last two decades, the biggest driver for domestic consumption is actually the number of people who are employed in that sector. That now seems to be behind us.
What are you going to do when you have two lakh people who are being added to the IT workforce, not being employed anymore going forward, and perhaps some of them slowly being laid off? That is a problem that is not receiving enough attention and I do not think it is a cyclical issue. It is a structural problem. We need to find another industry which can grow in the same way. Till we do that, the market will go searching
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