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IFFT head says jobs market looks cloudy this year- 12-Sep-2011
Mumbai: Indian Institute of Foreign Trade (IIFT) Director KT Chacko is apprehensive about deepening slowdown in the Western markets even though requests from the domestic companies for campus interviews at the institute have risen so far this year.
The looming slowdown may prevent companies from expansion and launching more products, which would in turn cringe the jobs market, Chacko said, adding most B-school students are not looking for working abroad.
Last year only 15 percent of IFFT students were hired by foreign companies to work abroad, he said, adding "moreover, nobody today wants to work overseas."
"I am afraid the not-so-promising economic outlook has led to a situation where companies are not keen on sourcing more products and talent," Chacko told in an interaction here.
When asked specifically whether IIFT, which is a deemed university and one of the top management schools, has assessed the gravity of the situation arising from the talks of a double-dip in the US and some of the leading European economies, Chacko answered in the negative saying it is too early to take a call.
"We need to see (whether) the recent drop in hiring is going to be a trend. If it lasts for a few more months, then obviously there is room for worry. We have to watch out for two-three months to arrive at a conclusion," he said.
Chacko was, however, quick to add that at the IFFT, "we have got more requests for campus interviews this year already."
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