Summary:

India's IT sector is expanding rapidly, with a 17% rise in jobs projected by 2024. By 2025, emerging technologies will account for 20% of employment growth, with specific professions such as AI specialists and cybersecurity professionals in high demand. Generative AI alone could generate one million jobs by 2028, significantly boosting GDP. Since 2018, GCCs have created over 600,000 jobs, with a projected 2.8 million by 2030.

The IT gig economy is expected to triple by 2030, employing 24 million workers, with demand split between Tier I and Tier II locations. Companies are increasingly turning to gig workers for specialized expertise, influencing IT recruitment. Non-tech industries such as BFSI and telecommunications will increase tech hiring. Upskilling initiatives like Digital India will help address AI and cybersecurity skills shortages. Despite global economic uncertainties, the sector remains strong, developing infrastructure and increasing expenditures by 15-20%.

Source: IBEF

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