April 28, 2023
Some of the industries include Banking, financial services and insurance (BFSI), and communication media & technology
These industries are projected to grow at a 7.53% CAGR
The need for tech talent in non-tech sectors is growing due to the increasing prevalence of technology in nearly every industry
Bengaluru, Hyderabad, and Gurgaon are the top locations for tech roles
India’s non-technology sector is expected to create over 1 million jobs for tech professionals by FY28, driven majorly by 6 industries, according to a report by TeamLease Services.
According to the report, BFSI and consulting, communication media and technology, retail and consumer business, life sciences and healthcare, engineering research and development, and energy and resources, as the industries driving this demand. These industries are projected to employ more than 1 million tech professionals by FY28, growing at a 7.53% CAGR. Currently, the sectors employ over 0.7 million tech professionals.
Experts stated that the need for tech talent in non-tech sectors is growing due to the increasing prevalence of technology in nearly every industry. They cited the 5G rollout, digital payments, new economy businesses, and electric vehicle manufacturing as examples of industries that require digital transformation and, thus, tech talent.
However, a lack of skilled talent remains a significant challenge for the industry and organisations should invest in broad tech upskilling and establish a skill-based talent management system. Currently, 54% of employers engage in a permanent workforce, with 30% of employers opting for mixed contracts and 16% opting for contractual hiring.
The report also revealed that Bengaluru, Hyderabad, and Gurgaon are the top locations for tech roles, and 27% of these roles are paid the highest in Bengaluru, followed by Hyderabad at 16% and Delhi and Pune at 13%.
Source: Economic Times