Indian IT sector to add over 96,000 employees in FY22, to remain a net hirer: Nasscom

Information Technology industry body Nasscom stated on Thursday that the IT sector continues to be the net hirer of skilled talent in the country. It added the top five Indian IT firms are planning on hiring 96,000 employees in 2021-22.

Nasscom's statement has come a day after Bank of America had stated the Indian software firms were going to cut 3 million jobs by 2022, which would help them save a whopping $100 billion mostly in salaries annually.

"With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs. The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in an official statement.

The IT industry body has contended that players in the domestic IT sector have potent hiring plans for 2021-22. The top 5 Indian IT firms alone are expected to add over 96,000 employees to its workforce, explained Nasscom.

"The industry is upskilling more than 250,000 employees in digital skills and has hired more than 40,000 fresh digitally-trained talent, indicating at its commitment and investment towards rapid enhancement of workforce capabilities...With one of the strongest deal pipeline, and strong business outlook, the industry is on track to meet its vision of USD 300-350 billion revenues by 2025," Nasscom added.

Nasscom stated that the Indian IT sector will remain a net creator of jobs. The sector is "committed to people-centric innovation, relentless talent focus". The domestic IT sector aims at delivering a superior transformative customer experience, according to Nasscom.

Nasscom added that the business process management (BPM) sector in India employs over 1.4 million people. The IT-BPM is said to be the sector that is most ripe for automation. "The IT-BPM sector overall employs 4.5 million people as of March 2021," it added.

The association explained that automation and RPA (robotic process automation) in the last 3 years has led to the net creation of jobs in the BPM sector.

"The addressable opportunity for BPM according to a NASSCOM-McKinsey Report is USD 180-220 billion, leaving significant headroom for growth and jobs," Nasscom added.

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