Key highlights:

  • The sector which was one of the largest sectors in terms of job creation has now fallen
  • This is the first time jobs have fallen to record low employment levels in the IT industry
  • The six IT companies together employed 59,940 new employees in the first half

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The impact of US visa restrictions has taken a toll on IT sector jobs for Indians. The sector which was one of the largest sectors in terms of job creation has now fallen as six of the largest employers in the $154 billion Indian IT industry saw their workforce shrink in the first half of FY18, according to a Live Mint report.

This is the first time it has fallen to record low employment levels since the IT industry had put India on the global map for software services.

The National Association of Software and Service Companies (Nasscom), which at the start of the current fiscal had projected the industry to see a new increase of at least 150,000 people, now this estimate comes under question.

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