India - a global hub for talent
By MYBRANDBOOK
The Indian technology sector is set to reach $245 billion in FY23, despite the global headwinds. Resulted there is an incremental revenue of $19 billion over FY 2022. The momentum shows the industry is on track to hit $500 billion by 2030, as per the report of NASSCOM.
This emerging sector has added 2.9 lakh new jobs to take the overall number to 54 lakh employees. The growth has been across segments of IT services, business process management, software products, engineering research & development (ER&D) and domestic market.
“FY23 has been another growth year for the industry creating impact for the country and all stakeholders. Despite global headwinds and some moderation in demand, the industry value proposition of resilience, agility and a transformation partner for global enterprises, enabled the industry to strengthen its leadership in core and emerging areas,” said an expert from NASSCOM.
India is a global hub for talent and continues to be the net employer with over 5.4 million workforce, creating 290,000 new jobs in FY23. The country has also emerged as a hotbed for deep tech startups in India, with it reaching a total of 3,000 in FY23. India added 1,300 new startups and 23 new unicorns in 2022.
With a 36% digitally skilled workforce, the industry remains on the top in terms of artificial intelligence skills penetration, the second-largest in terms of artificial intelligence, machine learning and big data analysis talent pool globally. It was also third in terms of installed supply of Cloud professionals.
In digital tech, analytics, cloud and cybersecurity are emerging as the fastest-growing segments, wherein the share of Cloud deals was reportedly four times of pre-pandemic levels.
India has emerged as a global powerhouse for deep-tech innovation capabilities and R&D, and is steadfastly committed to ushering future growth and innovation for global enterprises.
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
ICONS OF INDIA : VIJAY SHEKHAR SHARMA
Vijay Shekhar Sharma is an Indian technology entrepreneur and multimil...
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...