As the demand for new-age tech mushrooms, India’s technology talent-hiring landscape is said to increase by 10% in the next fiscal year (FY21). According to the IBEF report, the information technology (IT) industry employs nearly 3.97 Mn people in India of which 1 Lakh were added in FY18. In 2019, the industry was expected to add over 2.5 Lakh new jobs.
Currently, the IT and business process management (BPM) revenue is estimated at around $177 Bn in FY19, with a compound annual growth rate (CAGR) of 6.1%. By 2025, the IT-BPM industry is expected to touch $350 Bn by 2025. For the industry to grow, it requires the right talent and technology skillset to help the digital economy to reach $1 Tn by 2025.
The industry experts believe that the hiring growth will be supported by global companies such as Google, Facebook and Amazon, as well as local software service providers like Infosys, Tata Consultancy Services (TCS), HCL Technologies, Wipro and Tech Mahindra.
Furthermore, the local software companies will be expected to account for more than 40% of the industry’s total recruitment in FY21.
Tech Jobs, Ecommerce Hiring Spree And Temporary Hiring On The Rise
Last month, the ecommerce giants Amazon and Flipkart were on a hiring spree. Both the companies were fighting their ways to hire the right talent from top technical and b-schools in the country, including NIT and IIMs. Currently, Amazon is leading the campus drive followed by Flipkart. According to the IIM placement cell’s estimates, there has been a 75% increase in offers for a summer internship from the ecommerce sector because of Amazon and Flipkart.
On the other hand, the economic slowdown has hit the automobile industry hard. However, it has not impacted other segments like fast consumer goods and services, foodtech, ecommerce and retail businesses. These sectors are witnessing an increase in temporary hiring. The staffing firms like Quess, TeamLease Services, Manpower, Kelly Services and CIEL HR Services expect a 10-20% increase in temporary hiring in the coming days.