Service based Indian free market economy explodes to kill the next generations!

After Wipro, Cognizant and Infosys, Tech Mahindra plans to lay off 1500 employees...

Palash Biswas

Carnage in Indian IT: Wipro, Infosys, Tech Mahindra, Cognizant slash jobs!

India's IT companies employ close to 40 lakh people directly. They are one of the main reasons why Indian economy is relatively doing well. That story seems to be changing as of last week. Further, Indian IT firms are witnessing their slowest growth in a decade, while global firms are shifting their budgets from traditional IT services to newer areas such as digital and cloud!

Be aware my friends opting for technology, this year, the appraisal cycles came in the backdrop of a recent report by advisory firm McKinsey & Company, which said that almost half of India's 3,700,000-strong IT services workforce will be "irrelevant" over the next three-four years. In fact, industry body Nasscom has also said that both fresher and existing employees should look at self-learning to stay relevant at a time when digitisation is causing disruption in the industry.

The churn in the IT sector — which is moving towards increasing automation, use of artificial intelligence and is beset by tightening visa regulations — is likely to affect mid-level employees with 10-15 years of experience the most, as many are averse to learning new skills, industry experts have said.

Service sector oriented economy replacing agrarian based production based economy herald’s calamities infinite and digital India apped automation creates unemployment darkness for generation next. Apped forces of religious blind nationalism seem to be quite unaware of the calamities ahead under Saffron Tsunami environment which has inflicted majority heart and mind, I am afraid.

Since we opted free Market economy killing agriculture, nature and the humanity associated with Nature, Environment and agriculture, since Agrarian growth rate zooms around infinite zero, since Indian peasantry has only survival kit which seems to be mass suicide, the services sector is not only the dominant sector in India’s GDP, but has also attracted significant foreign investment flows, contributed significantly to exports as well as provided large-scale employment.

India’s services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction.

UID centred digital India dividing Indian people vertically with technical mobile apps besides purchasing capacity and income opportunity monopoly; this economic turnaround has inflicted workers, peasantry, business and the generation next as well.

 I have been warning against this time and again. Outsourcing tagged India as US colony and the ruling hegemony handed over sovereignty and freedom of the nation to US Imperialism.

Lay off is trending as trade unions have become the part and parcel of management. Ideologies hijacked by class and caste interest, workers have been betrayed all around.

It is the beginning only, I am afraid.

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