How can a dormant industry be stimulated? The question may baffle you for minutes but not for long since you know how the law of economics or even social relations remains vulnerable to uncertain times. The issue is debatable and the economists are ever ready with their own standpoints but if we perceive the base, we can surely conclude that one industry can invigorate the dormant one. Are you in need of concrete examples? Surely there are and it is nothing other than the Indian IT industry. The IT industry, after a lull of months thanks to brunt of worldwide recession, is retrieving and is also making the neighboring realty industry vigorous again bit by bit.
Recent studies indicate that the Indian IT industry has again gained the hiring mode and this has energized the commercial real estate segment to a great extent. You may get amazed to know that
Tata Consultancy Services (TCS), largest IT company in the realm of India is expanding existing facilities as it takes in more people. It is establishing new facilities as well.
“We will look at aggressive hiring in the current quarter to match our talent needs with the business demand, which is definitely increasing. This invariably means that we are expanding our existing facilities at Ahmedabad, Chennai and Mumbai, along with new ones in Pune and Kolkata,” a company spokesperson said.
This is not all. Have you heard the name of Network Appliance Incorporated? It is one of the largest producers and marketers of data storage systems and in recent days, has purchased piece of land in Bangalore to expand India operations.
“We have witnessed an increase in the number of enquiries from the IT sector this quarter (ending March). This is primarily due to the expansion these firms are doing in terms of hiring more manpower. We have seen a demand for office space in the range of 25,000-30,000 sq ft from the IT sector and this is definitely going to increase in the next couple of months,” DLF Group Executive Director Rajeev Talwar told Business Standard. DLF is the country’s largest real estate developer.
What conclusion can be drawn then? This is just the beginning.
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