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.
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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.
Source: Inc42
