Six years back, the IT bubble burst. It is a repeat scenario in 2008. And nowhere the weak sentiment more visible than in Hyderabad where an area, home to nearly 500 IT institutes, is virtually in recession.
Sudeep, a hardware networking student, says: "By the time I complete this, I may get good chances outside. By that time, the number of requirements may increase.''
The oxygen of hope keeps Sudeep going. This 23-year-old will complete a 6-month course in hardware networking in April next year, by when he hopes the economy will be back on track. His hope is shared by the thousands of students who flock to Ameerpet area in Hyderabad, home to nearly 500 IT teaching institutes.
Ameerpet in Hyderabad is referred to as the IT sub-capital of Hyderabad, and as a tribute to the great American dream, even referred to as the United States of Ameerpet in jest. Today, it seems more like a bad joke.
With most IT companies firing instead of hiring, sentiment is at an all-time low. Since September, nearly 50 institutes here have shut shop. The number of students enrolling for short-term courses, ranging between one month and a year, has crashed by 60 per cent. From 50,000 students, the number is just about 20,000 now.
V K Reddy, director, Jetking, says: "Last November, if 100 students joined the institute, now it has come down to 40 students.''
Venkat, manager, Noble Technologies, adds: "Earlier we used to get as fees 1,25,000 every month, now we are getting only 25 to 30,000 rupees.''
A majority of students come here from Orissa, Chattisgarh, north Karnataka and coastal Andhra Pradesh. All looking for a dream job. That, atleast for now, is not being promised.
Regards
Rajesh
SAP HR Fresher
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