Recession seems to be here if not in major way but to some extent. Many employees are reporting a single digit performance hikes which used to be generally 20-30% otherwise. Also many services companies in India which have offered jobs for campus guys have delayed their joining dates by around 6 months. So who is gaining from all this ? Indian startups!!. Indian startups have always been reporting the problem they have with hiring. Low brand value & high salaries being offered by other companies have been obstacles for them.While startups tries to attract employees by offering a generous stock plan, unfortunately many Indians don't value them. Funded companies do pay competitive salaries on par with others but low brand value and high risk do prevent people from joining them. Now with recession around startups can get better talent at affordable salaries. Hope this recession does not affect the VC scene in India.
Also in India many youngsters are keen on starting there own but high salaries and lack of family support prevent them from taking any risk. But because of recession say a guy loses his job and may end up starting his own company which can go on to be another Google, Youtube or Facebook. Well thats not too much to expect as Indians do have talent to do that.
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I think startups don't target right people. Only going for big university names is not going to help. You need to look real talent which you may get in colleges which are not very famous. No big company goes there. If you give those people opportunity, they'll definitely get you going.
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