‘IT-BPM industry will require upto 2 million employees by 2025’

Responding to a question about campus hiring during a press conference on the sidelines of the of Nasscom’s HR Summit 2016, R Chandrashekhar, president, Nasscom said that fresh hiring in terms of number was either static or gently declining.

“It is not as though total hiring is going down or the number of people employed in the industry is going down. Hiring is not in the same pace and that is because of automation and the higher margin pressures faced by the companies. This has led to companies using maximum manpower they have, by reducing the bench strength. Last year, hiring was about two lakh; this year it is expected to be on the lower side. This is only the first quarter and we cannot predict what is going to happen,” he said.

Impact of Brexit on India About Britain exiting the European Union, the Nasscom president said that in long term it may work positive for the Indian IT industry, though the immediate effect will be negative but hopefully not of a significant magnitude.

According to the ‘Technology Shifts and Workforce Priorities’ report, the Indian IT-BPM industry currently employs 3.7 million employees and India continues to maintain its leadership in the global technology arena with over 2 lakh net additions and 3.5 lakh digitally skilled employees. The report also highlights the growth of digital technology over traditional technology from five per cent to 38 per cent over the next decade.

Due to changing technology and skill sets in demand, there will be a gradual shift of the industry towards automation and around 5 to 10 per cent of existing jobs may be automated in the next 10 years, significantly changing existing skills across job functions, the report adds.