Young Muslim professionals hard hit by economic slowdown in India

By Syed Ubaidur Rahman

Young Muslim professionals are hard hit by economic slowdown in India. A large number of Muslim youth in their early and late twenties are employed in India's booming IT, outsourcing and Business Process Outsourcing (BPO) sectors.

Till merely a few months ago the sector was booming with thousands of new recruitment every month as new and newer projects were coming with prospects of generating handsome revenues for these companies.

But not any more. With a number of banks and retail giants closing their doors or downsizing their businesses in the US, the IT and BPO sectors in India have started resorting to mass lay offs.

Even students from prestigious institutions like IIT where many students just a year ago had several offers before completing their courses are finding it difficult to get a reasonable job. The number of IITians recruited this year has been 60% lower than 2007, when there was a huge response during the first few days. Many companies like Shell, RIL, Credit Suisse, HUL, Transocean, Dell and NetApp had initially said they would be coming to the campuses, but later backed out...

The condition is bad at all IITs, IIMs, XLRI. Don't talk about second rung IT or management institutions. IIT Bombay has had the best opening placements this year, with 32 students being offered jobs on the first day and around 28 on Day 2... IIT Kanpur saw around 55 students being placed on both days, compared to 90 last year...The IITs in Chennai, Delhi and Kharagpur saw only around 30-35 of their students being hired on both Day 1 and Day 2, while in 2007 the recruitments were as high as 90 on both days.

For many Muslim engineering or management graduates coming from middle class families who came out usually from second rung colleges, they are finding it very difficult to get their hands at good jobs or jobs at all or continue in their present jobs.

"Pink slips have become order of the day", says Muhammad Junaid who worked at a leading IT company in Gurgaon, the Satellite town near Delhi. Married just six months ago, he was devastated when he came to know through his HR office that he was among 200 people who were being laid off.

He says that he and his wife were planning to go out on a long due vacation as he was unable to get any at the time of marriage. But the sacking came as a shock not only for him but also for his young bride. "We are shattered. All our plans seem to have been killed. I had spent my whole saving on our marriage and I don't have any to fall back on" says he.

Wamiq, who is finishing his BE from a leading engineering college in the capital this year says that there are no companies coming for campus recruitment this year. Very few have turned up and what they offer is nothing when compared to what they offered last year.

The worst sufferers are those young people who had taken huge housing or auto loans thinking that they will be able to pay EMI from their 'secure' jobs.

Naved Khan who for two years worked at a well known IT company as system administrator had bought a two room flat in Noida, another satellite town near New Delhi sometimes ago. He was sure that he will pay the EMI from his salary. But one day the company cab didn't turn to take him to office. When he called his office to enquire as to why the cab was late, he was told that his services were not required any longer.

Within the last one month since being laid off he has been sending his resume to at least 10 companies on an average. He has appeared in some interviews too. But so far he has not received any call from any company. He says he is even ready to settle for a lower salary, but still no response. Naved says that if he doesn't get a job in the next fortnight or so he will have to sell the house at a far lower price than actually it cost him.

What is true of Junaid, Wamiq and Naved is true about a number of other young Muslim professionals in India's once booming IT industry.