Express Computer
Home  »  eGov Watch  »  Indian tech startups will provide huge employment opportunities for IT professionals: Ravi Shankar Prasad

Indian tech startups will provide huge employment opportunities for IT professionals: Ravi Shankar Prasad

0 635

While addressing the media on key achievements and new initiatives of the ministry of Information & Information Technology in last three years, Ravi Shankar Prasad, union minister for Electronics & Information Technology and Law & Justice said that the Indian technology startup sector will offer strong and growing employment prospects for Indian IT professionals.

Commenting on the recent layoffs by the major IT companies in India, he explained that the Indian IT sector employment prospects, both in the near and long-term is expected to be broadly positive and encouraging for the future. India IT companies currently serve two thirds of the fortune 500 companies and have created 40 lakhs direct jobs in India.

NASSCOM has already publicly contradicted reports of large scale layoff and have projected that the IT industry will continue to be a net hiring source as 2.5 to 3 million new jobs will be created by 2025. In FY 2017, the industry has added 1,70,000 new jobs. IT industry added 600,000 in last three years and today, boasts of a total employee base of 3.9 million.

Even TeamLease analysis for 2017-18 reported that IT sector hiring sentiments is positive and is up by four percent in October 2016 to March 2017, compared to the previous six-month period. The TeamLease analyses also indicated that e-commerce and technology startup sector hiring sentiments has increased by two percent, with projected 14.94 percent job growth.

Also recruitment and staffing firm Randstad projects (in December 2016), a cumulative growth rate of nine percent in the IT / ITeS job market.

The minister said that India’s domestic IT market offers strong prospects for industry growth, even if global markets were to face challenges. “India’s total software product market grew at 9.5 percent in FY2017 to reach USD seven billion. (Exports grew 7.8% to reach USD 2.3 billion.) In comparison, the domestic market grew much faster, at 10.4%, reaching USD 4.8 billion.”

India’s overall domestic IT/BPM sector is expected to grow at 8.5% from USD 35 billion in 2016 to an anticipated USD 37 billion in 2017, he added.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image