Indian Tech Industry To Add 3 Million More Jobs In AI, IoT, Analytics By 2023: Report

In a piece of news that will bring joy to employers as well as job seekers in the emerging tech industry, a new report has suggested that the Indian tech industry will add 3 million new jobs over the course of next five years. A report by the Indian Staffing Federation (ISF) has suggested that these new jobs would come up in digital technology areas such as artificial intelligence, machine learning, internet of things, data science, analytics, big data, blockchain and augmented reality, among others. The report also added that the size of India's tech-based jobs would touch 7 million by 2023. Rituparna Chakraborty president of ISF, told a noted national daily that this report was based on their constant interaction with a wide range of companies. "This includes Indian tech firms, MNCs, global capability centres of hundreds of international firms, enterprises across segments including e-com, BFSI, pharma and telecom,” she said, adding that as of now, India has 1,300 captive units, in which, 400 new ones will be added by late 2019. Chakraborty says that this shift is attributed to a sharp rise in hiring by existing and new global in-house centres due to technology innovation activities in India for their global markets. For example, the Indian tech behemoths Tata Consultancy Services and Infosys have already paced up their hiring in the emerging tech sector manifold. According to recent numbers, TCS has increased their hiring in IT by 377% and Infosys by 642%. This development comes as a positive change, especially after several IT companies handed out pink slips in 2017-18 as a result of lack of projects, increase in automation and migration to cloud computing, among others. In fact, a recent study by Analytics India Magazine had found out that there has been an overall growth in the number of jobs in analytics and data science ecosystem with India contributing to 6% of open job openings worldwide. The total number of analytics and data science job positions available at the time was 97,000. Out of these, 97% of the job openings in India were on a full-time basis while 3% of them were on a part-time or contractual basis.