Overview: Indian IT Job Market
This is an ever booming sector which has, over the past few years, grown at a very high pace and has created a brand identity for itself. It has equally contributed towards the GDP, employment and exports of the country. This sector enjoys the position of being the largest employment generator of the country. This sector has given direct employment to around 28 lakh individuals and indirectly it has hired somewhere around 89 lakh individuals. Additionally, it contributes to around 7.5% of the GDP of India.The top hiring organisations in this sector comprise of; Tata Consultancy Services (TCS),Infosys, Cognizant, Wipro and HCL Technologies respectively.
Indian IT Market Job Trends
The IT Sector in the country is likely to remain stable till 2020 if the analysis of World Economic Forum is taken into consideration. Although demand for traditional IT professionals is on a decline, attractive employment trends are expected for the upcoming and emerging fields of Data Analytics and Cloud Computing. Though, globally around 5.1 million jobs are on the verge of being lost during the period 2015-20, the demand for new trends in IT like mobile internet etc. would remain stable for the same period. This kind of stability is expected because of the increased demand of the digital technologies in today’s times. It is reported that in India, the traditional IT jobs will decline at the rate of 0.38% annually during 2015-2020, whereas growth in the mobility segment is expected at 1.15% during the same 5 year period. As per the report, “Strong employment growth in the computer and mathematical jobs family, covering both traditional IT work and disruptive digital technology, will be driven by trends beyond technology”.
Academic Qualifications: IT Job Market
The Software and IT sector mostly prefers Engineers, topping the eligibility chart with around 57% share in the total hiring mix. These are followed by General Graduates (degree) at 24%. Then candidates from Management background are preferred to the tune of 14%. There is a decline in the hiring of candidates with a mere diploma as opposed to candidates with some vocational training in the field of IT.
Challenges and Opportunities for Indian IT Job Market
The rapid expansion in the IT sector has contributed much to the economic development on the whole across the globe. The IT industry has now become one of the main sources for export earnings and has also become a major contributor in the transformation of the domestic as well as international economy.
Challenges faced by the IT sector include quick response to the change in technology and demand. Also, insufficient supply and subsequent inadequate use of the skilled human resources is another challenge faced by the IT industry. Improvisation of productivity is also a challenge in the IT industry.
Opportunities include entrepreneurial dynamism and access to large number of skilled workforce at lower costs. Other opportunities comprise of; new business processes, human resource and institutional capabilities, renewed public policies and the strengthened investment climate.
Top Employers of IT Industry
The top hiring employers in the IT sector in India include:
- Tata Consultancy Services (TCS)
Other top IT organisations include CMS, PCS Technology, HP, Accenture, Capgemini, Tech Mahindra and iGATE.