The Indian IT sector is continuing to a net hirer, with the country’s top 5 companies expected to hire a further 96000 people.
This was stated by The National Association of Software and Service Companies (NASSCOM). It follows a report on domestic software firms, published by Bank of America. This is as the U.S. expects to lose about 3 million jobs, particularly in the IT industry, by 2022. The main cause would be a sharp rise in automated processes across industries.
Nasscom indicated that this wasn’t going to be the case for Indian. Despite the decline in other markets, the Indian industry would continue to hire. Almost a 100,000 would join the ranks of the top Indian IT firms next year.
“With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs. The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021,” the Nasscom statement read.
This would add to the 4.5 million existing employees in the IT-BPM sector, as what the Nasscom document revealed.
It further indicated: “The industry is upskilling more than 250,000 employees in digital skills and has hired more than 40,000 fresh digitally-trained talent, indicating at its commitment and investment towards rapid enhancement of workforce capabilities…With one of the strongest deal pipelines, and strong business outlook, the industry is on track to meet its vision of USD 300-350 billion revenues by 2025.”
Nasscom argued that the Indian IT sector was focused on creating jobs that were ‘people-centric’ and would put human talent at the heart of growth. It also advanced that there was a will in the tech space to generate and deliver a ‘superior transformative’ customer experience. This would apply in particular to the Business Process Management (BPM) field, which has more than 1.4 million people. A sector which, Nasscom noted, was ready for the next step of its emancipation.
Indeed, a LinkedIn report of over two months ago, on the Indian IT sector, had flagged that “TCS, Wipro, Infosys, HCL Technologies and Tech Mahindra will together hire more than 110,000 people this year – up from a net addition of 90,000 jobs last year. Higher projected #attrition, fresher hiring plans, pent-up demand, return of IT spending and re-filling of benches are some of the factors driving the hiring sentiment, as per Xpheno. DXC Technology has made 7,000 offers on campuses this year, up from 4,500 last year. Others such as Mindtree too are looking to increase hiring to manage the high attrition rates.”
What’s more, Robotic Process Automation (RPA) was also on the path of evolution in this industry. Contrary to what appears to be going on in the tech industry in the U.S., this doesn’t seem to be thwarting the growth of human jobs.
This trend appears to be steady, as Youpal Group owner, co-founder and CEO Karl Leahlander noted previously: “The BPO solutions and structures which exist in India… that is so massive and has such a stronghold in the world nowadays, but that wasn’t the case 50 years ago. But now, that country has a population of 300 million people living on the highest rung of the middle class in the world. That means that 30% of India is the same as the entire United States. The Indian middle class has already achieved what Americans are still aspiring at, so to speak. Americans are still living on their historical prosperity of the 50s, 60s and 70s, post WW2.”