Hiring Increases in Indian IT business

Is the slowdown going to help or hamper the Indian businesses?  Specially the IT firms?  The indications are that these companies are already gearing up for an uptick in work already.

Accenture is making plans to hire around 13,000 more people and also building a good consulting business in India.  TCS on the other hand expects to hire 30-35,000 more people and its Global HR Head sees a 8-10% increase in the salaries of the professionals.

Like I have always said what is needed in India is increase in productivity not lowering of quality or increase in numbers for the people hired.  That increase and emphasis on productivity is currently.