Telecom, which was at one point a major talent puller, is witnessing a muted growth in hiring as a result of the major consolidation drive in the industry. First, the RCom and Aircel merger and now the Vodafone-Idea merger. Hiring experts said this could lead to redundancies and a possible reverse flow of talent to sectors like FMCG and pharma. Aditya Birla Group’s director - HR, Santrupt Misra, however, thinks otherwise.