Indian IT Fresher Hiring Rebounds to 135,000 as Agrani Eyes ₹850 Crore AI Chip Funding

India’s $300 billion technology and IT services sector is experiencing an entry-level hiring turnaround following nearly two years of suppression, according to industry data released in The Economic Times Morning Dispatch.

Recruitment firm Quess Group projects fresher onboarding to rise to 115,000–135,000 in the current fiscal year, representing an increase of 4.5% to 22.7% over the record-low ~110,000 seen in FY26.

Multi-Year Fresher Intake Trajectory

• FY22: 380,000
• FY23: 250,000
• FY24: 155,000
• FY25: 125,000
• FY26: ~110,000

The turnaround began during the June quarter, where Tata Consultancy Services (TCS), Infosys, and HCLTech collectively onboarded around 19,000 entry-level staff, according to a Nasscom report evaluating 29 IT services firms. Despite the volume recovery, hiring criteria have tightened significantly, with firms requiring deployment readiness in AI, cloud computing, data analytics, and cybersecurity with minimal ramp-up time.

Startup & Venture Capital Developments

• Agrani Labs ₹800–850 Crore Raise: Bengaluru semiconductor startup Agrani Labs—founded by former Intel and AMD executives Dheemanth Nagaraj, Ashok Jagannathan, Rajesh Vivekanandham, and Srikanth Nimmagadda—is negotiating an ₹800–850 crore funding round. Potential participants include Samsung, 360 One Asset Management, and Peak XV Partners (investing ₹180–200 crore), alongside ₹120–130 crore via the government's Research, Development and Innovation (RDI) scheme. The round values the AI data center GPU developer at ₹2,400–2,500 crore post-money.

• Moneyview IPO Surge: Shares of digital lender Moneyview closed 67% above their initial public offering (IPO) issue price of ₹34. Early backers Ribbit Capital, Accel, and Tiger Global monetized ₹39 crore, ₹83 crore, and ₹52 crore respectively via the OFS, leaving their residual holdings valued at ₹826 crore, ₹1,775 crore, and ₹1,117 crore. Moneyview posted FY26 revenue of ₹3,404 crore (up 43% from ₹2,379 crore in FY25) and profit after tax (PAT) of ₹243 crore.