The IT-BPM sector overall employs 4.5 million people as of March 2021
Automation and RPA have been maturing in the last 3 years and have led to a net creation of jobs
The industry is on track to meet its vision of $300-350 billion revenues by 2025.
New Delhi, NFAPost: In view of some recent news reports based on talking about the apparent job losses in the Indian IT/BPM industry, the apex industry body Nasscom has come up with its clarification that the industry is continuing its job creation depsite global Covid-19 pandemic.
In a statement Nasscom said with the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs.
“The Industry continues to be a net hirer of skilled talent, adding 138,000 people in FY2021, and robust hiring plans for FY22 with the top 5 Indian IT companies planning to add over 96,000 employees,” states Nasscom.
Nasscom also highlighted the fact the industry is upskilling more than 250,000 employees in digital skills and has hired more than 40,000 fresh digitally trained talent, indicating at its commitment and investment towards rapid enhancement of workforce capabilities.
The recent Nasscom report on the job scenario has some great insights on the future of work and other emerging trends. However, the industry body states certain data points on job displacement in IT/BPM sector are incorrect.
“The BPM sector in India, which has been called out as the sector ripe for automation, employs over 1.4 million people (excluding domestic and in-house) and not 9 million as the report suggests. The IT-BPM sector overall employs 4.5 million people as of March 2021,” clarifies Nasscom.
Around 33% of the total jobs in the BPM sector are related to customer interaction services (e.g. call centre work including mail, chat etc). Most of the customer work from India is now being done in an omnichannel model and involves higher-end expertise with technology and automation already built into the processes.
Automation and RPA have been maturing in the last 3 years and have led to a net creation of jobs for the BPM sector. The addressable opportunity for BPM according to a Nasscom-McKinsey Report is $180-220 billion, leaving significant headroom for growth and jobs.
Nasscom states that BPO industry in India is constantly innovating on reimagining processes for global customers – building products, leverage analytics, customer experience and the announcement by all companies showcases the growth in a pandemic year and opportunity ahead.
“With one of the strongest deal pipeline, and strong business outlook, the industry is on track to meet its vision of $300-350 billion revenues by 2025. The Industry will continue to be a net creator of jobs and is committed to people-centric innovation, relentless talent focus, and delivering a superior transformative customer experience.
Guided by India’s vision to become a leading digital economy globally, Nasscom focuses on accelerating the pace of transformation of the industry to emerge as the preferred enablers for global digital transformation.
Besides strategic imperatives to reskill and upskill India’s IT workforce to ensure that talent is future-ready in terms of new-age skills, the industry body is in the forefront of strengthening the innovation quotient across industry verticals, create new market opportunities – both international and domestic.
