India, Feb 15th, 2014: NASSCOM’s Sector Skills Council (IT-ITeS SSC NASSCOM) has launched the Talent Demand Supply Analysis report for the Indian IT-BPM Industry on the sidelines of the annual NASSCOM India Leadership Forum 2014.
The objective of this report is to standardize and streamline the process, both for hiring as well as training and to facilitate a ‘job ready’ and ‘market ready’ scenario. The Indian IT sector has made unparalleled impact on the Indian economy with its far reaching effect on socio-economic spheres including revenue growth, livelihood generation, infrastructure development, and social transformation. Hence it is of vital importance to create and nurture a skills ready work force for the industry and sustain its growth for years to come.
President of NASSCOM R Chandrashekhar said, “Over the years, organizations across the world have come to recognize the value that India’s vast and readily available pool of IT professionals bring to every engagement. As India transitions to become a knowledge-based economy, it requires a new generation of educated, skilled and talented workforce. This report will address key issues of employability, by generating efficient workforce functions, employment opportunities, increase productivity and drive innovation and growth in the country. The report is a remarkable endeavor of the SSC NASSCOM to fulfil industry’s talent needs for quality and quantity and to enable a sustainable pipeline that is industry ready.”
As India is a pioneer in the IT-BPM industry it is important to continue investment and up-skilling of talent for the industry to retain its global leadership position. The report aims to provide a qualitative and quantitative analysis of talent demand and supply for the industry focusing on the number of professionals and skills required for the industry.
As per NASSCOM’s Strategic Review 2013, the industry aggregated revenues exceeding $108 billion and employed almost 3 million people. The industry accounts for almost 25 percent of the total exports and 11 percent of the total service revenues. Although nearly 12 million employable people are getting injected into the labor market every year, the industry is facing a shortage of the ‘right’ talent. This is a cause of concern because; this ‘right’ talent is imperative for India to maintain its leadership position in the IT-BPM industry. Thus, one of the key initiatives taken up by the government in collaboration with industry is the development and up-skilling of talent to uphold its global leadership.