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NEW DELHI: The IT sector may be feeling a little low because of a slowdown in the US economy, but there are good reasons to put a smile on the Indian techies' face. Reports suggest MNC IT firms will hire nearly 40,000 people in India in the next two years.

This inspite of the fact that some studies predict employment outlook in the Indian IT sector may not be robust in the coming months.

However, IT professionals can look forward to being wooed by foreign IT companies in India. In fact, in the last three months alone, foreign IT firms have announced plans of hiring 40,000 people in the coming two years.

As against this, Indian software companies have outlined a headcount increase of only 4,400. That is because, the IT sector -- one of the highest employment generating segments in the services sector -- has been feeling the pressure of increased value of rupee against dollar, rising wage inflation and the slowdown in US economy. This was revealed by an Assocham study.

Interestingly, despite the bug bears, the Indian growth story remains as it is for global software service providers. The largest hiring is expected from US-based Computer Sciences Corporation (CSC). The company has drawn up plans to increase its headcount by 16,500 in the next two years.