IT major, Tata Consultancy Services (TCS), plans to hire around 30,000 employees this fiscal, a top company official said today.

"We estimate our manpower growth would be 30,000 new people this year," TCS' Chairman, Ratan Tata, told shareholders at the company's annual general meeting (AGM) here.

The company has 1,60,00 employees and added 16,851 professionals in Q4 of FY 10.

Tata pointed out that as per global standing, TCS stands at the ninth position in terms of revenue, sixth in terms of profits, fourth in terms of market capitalisation and fourth again in terms of employees.

The US economy was recovering and it would sustain recovery more than the UK and Europe, Tata said, adding that demand has started picking up and the share of IT services would increase.

The current European crisis has not hit the company hard, but its revenues have come down marginally.

"Slowdown and the crisis affected Euro but we have not seen any impact of the current European situation. We had client-specific issues and currency issues," TCS' CEO, N Chandrasekaran, told reporters on the sidelines of the AGM.

"The share of our European revenues has come down from 30 per cent to around 25 per cent," Chandrasekaran said.

The company's telecom revenue suffered significantly as there was a drop in volumes from one large European telecom service provider. .

Looking at markets, North America continues to lead the major markets in terms of growth. The UK also grew but the rest of Europe remained slow and stagnant. Our scale in emerging markets like Latin America, China, the Middle East and Africa continued to grow and now contributes revenues of over USD 1-billion but remains largely project-based and not annuity, he said.

From the business perspective, the business recovery was led by the banking and financial services industry with retail, energy and utilities and life-sciences playing a supporting role in the company's growth.

The assurance, BPO and infrastructure services continued to grow at higher than company average and it also was beginning to see larger deals coming through in the traditional Application Development and Maintenance (ADM) space as well.

The company is also developing solutions in healthcare, retail and government sectors.

The company has won a small portal development project of the UID, Tata said.

Replying to a query on retirement policy (his retirement), Tata said, "we are also human and we must move on and others should get chance to take our place.