The Indian Information technology (IT) sector generated revenue of USD 227 billion in the financial year 2021-22. As per the National Association of Software and Services Companies (NASSCOM), the IT industry directly employs around 51 lakh persons in FY 2021-22, most of which are IT skilled.
In addition, with increasing digitalization under the Digital India program in the last 7 years, other economic sectors have created large opportunities for digitally enabled jobs.
The revenue earned by the sector in FY 2019-20 was USD 190 billion, which rose to USD 196 billion in the subsequent fiscal, and to USD 227 billion in the last.
As per the report by the Ministry of Electronics and IT on “India’s trillion-dollar digital opportunity”, India is poised to be a trillion-dollar digital economy and could support 60 to 65 million digitally enabled jobs by 2025-26.
Indian IT sector to employ 95 lakh by 2026.
NASSCOM reported the projected requirement of manpower by the Indian IT industry itself by the year 2026 would be around 95 lakh for India to maintain the growth momentum in the IT sector. Of the projected 95 lakh, 55 lakh will be digitally skilled across key digital technologies such as cloud computing, AI, big data analytics and IoT, etc.
To achieve this the IT sector is expanding the operation to tier-II/III cities and hiring freshers.
To develop the future workforce in emerging digital skills, the Ministry of Electronics and IT (MeitY) and the National Association of Software and Services Companies (NASSCOM) have jointly initiated a program titled “Future Skills PRIME (Programme for Re-skilling/Up-skilling of IT Manpower for Employability)” which aims to create a re-skilling, up-skilling ecosystem in futuristic technologies.
As per the Minister of State for Electronics and Information Technology, under the Future Skills PRIME program so far, 8.20 Lakh candidates have registered on the Future Skills PRIME Portal, out of which, 1.36 Lakh candidates have completed their courses.
FIRST Business Portal addressing the potential of business capability of North East Region.
