India is fast emerging as a winner in this Information Technology services hype. Today, the US based companies are ranking India as their first choice for offshore outsourcing needs. India stands as one of the major players in the outsourcing industry, in terms of well educated, talented, low cost and English speaking workforce, excellent IT and networking infrastructure, a fairly stable political scenario, friendly laws and well laid taxes and quality certified software firms. The 1990s have brought a revolutionary change in Indian business. Post-liberalization is marked by a shift from command economy to market driven economy, from sheltered market to competitive market. Such a shift demands competitiveness among Human Resource Managers. Building competitive workforce can be a key for a firm’s success based on establishing a set of core competencies that will deliver better value to customers as compared to competitors. Information Technology is one of the big sectors accounted for the huge employment in India. Hence, there is a big challenge to retain good employees as well as to update their skills. After the privatization and globalization, the management of IT sector has tremendous challenges in terms of training employees in order to maintain good services for their customers.