The National Association of Software and Service Companies (NASSCOM) has clarified that the Indian IT-BPM sector will continue to be a net hirer in 2022. In fact, it will, in all likelihood, become a $300-350 billion industry in five years.
According to NASSCOM, the top 5 Indian IT companies are planning to add more than 96,000 employees negating reports that claimed that three 3 million IT jobs would be lost by 2022 due to automation.
The statement from NASSCOM assures that “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 IT industry has been a net hirer of skilled talent, having taken on about 1,38,000 people in FY21, and working on “robust hiring plans for FY22…”
That is not all, the IT industry is “upskilling more than 2,50,000 employees in digital skills and has hired over 40,000 freshers with expertise in digital. This only proves its “commitment and investment towards rapid enhancement of workforce capabilities,” stated NASSCOM.
The clarification revealed that the business process management (BPM) industry in India employs about one and a half million people, including domestic and in-house, contrary to the report that said nine million. Overall, as on March 2021, NASSCOM, clarified, that the IT-BPM sector provides employment to about 4.5 million people.
The top 5 IT services firms—Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, and Tech Mahindra—have admitted to a surge in demand for skilled talent in the fields of cloud computing, Internet of Things (IoT), artificial intelligence (AI) and 5G, among others., these actually companies plan to increase hiring due to a revival in business demand in comparison to 2020.