IT-BPM Industry to create 3 lakh jobs by FY2023: Report

The report states that the overall headcount in the industry has an upsurge of 5.1 million to 5.45 million with an increased demand in digital skills.
Listen to this story

The Information Technology and Business Process Management (IT-BPM) industry in India is set to witness about 7% growth in its workforce – creating a whopping 300,000 jobs this fiscal year, says a report by Teamlease. The ‘Digital Employment Outlook Report for H1-2023’ released on Monday projects the ongoing demand for digital skills to shoot up to 8.4%.  

The report is based on survey findings gathered after interviewing 100 employers and inputs from engineering colleges across 500 cities. 

Riding on added investments and better technology, the demand for contractual staffing is set to increase, rising up to 21%. IT services and product development companies are expected to  contribute up to 70% of contract staffing. 

THE BELAMY

Sign up for your weekly dose of what's up in emerging technology.

Seven out of 10 IT companies focus on hiring candidates equipped with digital skills from emerging locations and smaller cities. The two main digital skills would be MarTech (marketing technology) and IoT (internet of things), with MarTech being expected to increase to 7 per cent from 5 per cent, and IoT from 4 per cent to 6 per cent for the fiscal year. 

“IT-BPM industry continues to be a sunshine industry in India, being the largest employer in the private sector, employing about 3.9 million people, and contributing to over 8 per cent of the GDP. Our industry also amounts to 55 per cent of the global outsourcing market,” says Sunil C, CEO, TeamLease. 

Thanks to the work-from-home set-up being standardised, non-metro locations are becoming  the hot-spot for digital skills. Now, it’s the jobs coming to people, instead of candidates migrating to cities looking out for jobs, quipped Sunil.

“Hiring of engineering graduates is also seeing momentum from emerging locations, but there is still untapped potential. Only 33 per cent of engineering graduates (4,95,000 from the 1.5 million) are getting hired and 35 per cent of the graduates are emerging from the top 500 cities,” said Sunil.

He also highlights how 1.5 lakh professionals have upskilled themselves in digital-related technologies, which plays a major role in increasing employment opportunities. 

More Great AIM Stories

Bhuvana Kamath
I am fascinated by technology and AI’s implementation in today’s dynamic world. Being a technophile, I am keen on exploring the ever-evolving trends around applied science and innovation.

Our Upcoming Events

Conference, in-person (Bangalore)
Machine Learning Developers Summit (MLDS) 2023
19-20th Jan, 2023

Conference, in-person (Bangalore)
Rising 2023 | Women in Tech Conference
16-17th Mar, 2023

Conference, in-person (Bangalore)
Data Engineering Summit (DES) 2023
27-28th Apr, 2023

Conference, in-person (Bangalore)
MachineCon 2023
23rd Jun, 2023

Conference, in-person (Bangalore)
Cypher 2023
20-22nd Sep, 2023

3 Ways to Join our Community

Whatsapp group

Discover special offers, top stories, upcoming events, and more.

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Subscribe to our newsletter

Get the latest updates from AIM