HR and staffing firms said they are confident in the Indian economy and predict the SVB collapse will have minimal to no impact on the talent market in India.
The collapse of Silicon Valley Bank (SVB) has created uncertainties in the talent market for Indian startups, which are estimated to have had deposits worth about $1 billion with the lander.
Regulators shut down SVB, which had $209 billion in assets at the end of 2022, on March 10 after a run on the lender.
However, HR and staffing firms said they are confident in the Indian economy and predict the SVB crisis will have minimal to no impact on the talent market. Though factors such as a slowdown may cause an imbalance in the Indian talent market, experts said the SVB collapse alone will not affect it.
Active talent demand from tech startups had dropped to one-third of its typical volume during the second half of 2022, data by specialist staffing company Xpheno showed. It has since remained in the less than 20,000 rang...