Key Points
Indias $ 250 billion information technology sector, which was expected to double its workforce by 2030 will likely miss the target, according to industry experts..
An ongoing cyclical slump in demand for technology services as well as the more long-term threat of artificial intelligence-induced job losses could see the sector employ just about 7.5 million by the end of the decade from the current level of 5.4 million employees, according to data from a top hiring firm...
Recruitment consultancy Team Lease Digital had earlier estimated that the Indian IT workforce would expand to 10 million by 2030...
Industry experts are of the view while economic slowdowns are a temporary phenomenon the bigger challenge for the Indian IT services industry is the technology disruption with AI becoming centre stage...
Even as the technology hiring industry braces for AI-driven efficiency leading to short-term pressure on revenue and headcount additions, there will be an uptick in demand for AI-ready skills eventually, said Vineet Nayar, former HCL Technologies CEO...
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