It is oversaturated with 90% of employees being unemployable. A lot of large companies rely on being the source for outsourced jobs. The mass recruiting firms have horrible working conditions like people with offer not getting to join the company, getting fired before they could even work, working according to American timings etc. Some of the better colleges had to ban those companies from campus placement because of their working conditions but lower colleges don't have that option. It isn't bad if you are from top government colleges (and a couple or so private ones) but otherwise IT is a job that sucks away your soul because there are so many people who are willing to do the same thing for lesser amount.