Almost 1.38 lakh people are expected to be hired by the Indian tech industry in FY2020-21, taking the total employee base to 4.47 million, the annual Nasscom report has stated.
The report is the annual strategic report by the industry body titled Technology Industry Performance FY21 and FY22 trends.
It showed that the industry continues to be a net hirer, with a major emphasis on digital upskilling. It is estimated that the digital talent pool will surpass the existing 1.17 million, rising by 32 percent over the previous year.
Companies upskill 2.5 lakh employees in the digital space every year, the report said.
As part of its report shared on Monday, NASSCOM added that the size of the technology industry is estimated to grow 2.3 per cent to $194 billion for the year ending March 2021, compared to $190 billion last year.
From $147 billion last year, exports increased to an estimated $150 billion. In FY20, the industry grew 7.7 percent.
With a 52 percent relative share of services exports and a 50 percent share of total FDI, Indian tech contributed about 8 percent relative share to national GDP (based on FDI inflows for April-September 2020).
Compared to October-March 2020 at the back of COVID-19, the deal value for cloud increased 80 per cent between April and September 2020. A total of 146 merger and acquisition deals were also seen by the industry, with over 90 percent of them digital-oriented.
The NASSCOM CEO Survey 2021, which is part of the annual report, shows that more than 70 per cent of businesses expect global technology investment to be higher than in the previous year. These are likely to be in the areas of cloud, cybersecurity and IoT (Internet of Things).
Sixty percent of industry CEOs expect greater digitalization deals in 2021 with faster cloud adoption, with investments expected to rebound in key sectors such as banking and financial services, retail and manufacturing, the survey noted.
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