India to add 300K IT-BPM jobs by March 2023
India’s Information Technology and Business Process Management (IT-BPM) industry is expected to add around 300,000 jobs by March 2023.
According to a report by specialized staffing firm TeamLease Digital, the IT-BPM workforce is on the trajectory to grow by seven per cent in FY2023, with the overall headcount increasing from 5.1 million to 5.45 million.
Additionally, the demand for digital skills will grow by 8.4% by the end of this fiscal year, as 15 digital skills will pull on the demand.
Meanwhile, contractual headcount will also grow by 21% as investments increase and enterprises accelerate their digital adoption.
TeamLease Digital Chief Operating Officer Sunil C said, “IT-BPM industry continues to be a sunshine industry in India, being the largest employer in the private sector, employing about 3.9 million people, and contributing to over 8% of the GDP.”
Accounting for about 55% of the global outsourcing market, Sunic C added that a “super-cycle of digitization and with more companies focusing on [the] rapid adoption of emerging technologies, demand for tech talent is going to see a strong surge in the coming quarters, especially in IT-BPM.”
TeamLease’s report also stated that applicants are also taking ownership of up-skilling themselves. Incidentally, 1.5 lakh professionals have upskilled themselves in digital-related technologies.
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Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
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