IT Execs Marriages (Arranged) are on hold due to recent job loss in India
Clipping from Economictimes: The global recessionary trends have affected the young employees of the Indian software industry in Hyderabad in more than one-way.
While on one hand it is has spelt job loss fear, on the other hand, the parents of brides-to-be are no longer in search of IT grooms for their daughters.
The global recessionary trends have certainly scared the parents of would be brides who have apprehensions about the fluctuating signs in the information technology sector.
A mother of a would-be bride said she would prefer non-IT professionals for her daughter seeing the latest trend.
"It fluctuates. Day-to-day it can change. What is happening now could be a short phase," said Sharda Singh, mother of a would- be bride.
A father of a would-be bride expressed his concern too saying these ups and downs are bound to take place in any economy.
"There will be some ups and downs in anybody's life like that any sector in a country or the world can also have its ups and downs," said Rama Rao, father of a would be bride.
Some parents said they did not want to take interest in the marriage proposals of IT professionals any more as they were too scared of recessionary trends.
"I am very afraid of its effects," said S Krishna , father of a would- be bride.
India's IT export growth could be slower than its July forecast of a 21-24 per cent rise to about 50 billion dollars in the year to March, lobby group National Association of Software and Service Companies said last month.
Europe and Asia are big clients of Indian IT companies such as Tata Consultancy, Infosys Technologies, Wipro and Satyam Computer.
Some outsourcers may cut their dollar revenue forecasts due to a downturn in the US market, which contributes more than half their revenue, analysts said.
Indian IT firms have also been expanding in Europe and elsewhere to cut their dependence on US. But the risk of global recession is a worry for the sector, which was used to a scorching pace of growth.