Dear Rajesh,
:) The scenario in recruitment process is probably like a funnel at present. IT companies are sourcing people, and the talents leave organization for better prospects, a few only stay back in the same organization. If you have seen the trends in recent past, you will find that a person having 3-8 years experience in a specific sub-domain of IT has shuffled organizations for better prospects.
The outsourcing people (mostly through agencies) are fresher HR guys just out of campus in search of a job, and in many cases just graduates. So their primary objective is to obtain experience in sourcing and then go for better oppertunity. In majority of cases there is a lack of seriousness (with a few exceptions), and many do not wish to go for specializations in IT sourcing.
:idea: If you are proceeding, in my opinion its better to do a sampling on various sourcing agencies, the conversion rates, billing, pattern of clients .. this you can do telecon. (No consultancy will try to repel a prospective client, isn't it ?)
In short term, you can expect growth for at least 2 years. All the big giants in IT are recruiting, and the vaccum is being created for the left out positions. All you need to do is MAPPING ... where a position is created, from where the person has sourced, again there a vaccum is created ! How to do it efficiently is the task of consultant.
In long term, in my opinion, go for specialization. Be it OpenSource, J2EE or Siebel .. and source for specific industries. Probably you may wish to go for generalization for 1-2 years to get a fair idea ..
Wishing you luck and success.