The experts also say that unlike the general trend, the IT sector is not going to get much affected this time. The main reason behind this is that many IT professionals abroad are returning to India as they face with job and salary cuts abroad.
This gives the Indian IT companies a chance to pool the technical resources.
But at the same time the hiring has been slowed down in telecom, insurance, construction and financial services.
Rising inflation and consequently higher interest rates have resulted in slower growth in sectors like real estate and automobiles. This will impact job creation in these sectors.
