India’s technology sector is projected to require over 1 million high-tech engineers proficient in advanced skills like artificial intelligence (AI) and other capabilities within the next 2-3 years, according to estimates from an industry body.
This demand for high-tech engineers won’t be met unless the government significantly beefs up education and training in the country.
India’s $250 billion tech sector plays a crucial role in the economy, employing about 5.4 million people. Tech services constitute approximately 7.5% of the country’s $3 trillion-plus gross domestic product (GDP).
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However, the sector faces a critical challenge: a widening gap between the skills of the existing workforce and the requirements of the job market.
Challenges and Root Causes
- Skill Gap and Employability:
- The employability of the workforce remains a significant challenge.
- The industry requires more than just one-time upskilling; it necessitates a continuous journey amid a rapidly changing digital landscape.
- Poor Schooling System:
- The root cause of India’s skill gap lies in its inadequate schooling system.
- From lower grades to high school, colleges fail to provide students with practical skills essential for the job market.
- Mismatch Between Skills and Job Requirements:
- Indian IT companies, including giants like Tata Consultancy Services (TCS), struggle to fill positions due to a wide mismatch between workforce skills and job requirements.
- The skills gap puts Indian companies at a disadvantage compared to global rivals like IBM and Accenture.
Industry Response and Reskilling Efforts for High-Tech Engineers
- Upskilling Existing Workforce:
- The tech sector needs to reskill more than half of its existing workforce to take up jobs in fields such as AI, big data analytics, and cybersecurity.
- TCS, for instance, has doubled the number of employees trained in AI.
- New College Graduates:
- New graduates can only fill a quarter of the advanced tech jobs needed.
- The demand-supply gap for digital talent is expected to widen from the current 25% to about 29% by 2028.
Wrapping Up!
India’s economic growth relies on a dynamic workforce. As organizations adapt to evolving business landscapes, HR leaders and policymakers must prioritize education, practical skills, and continuous upskilling. Bridging the skill gap will not only benefit the tech sector but also contribute to India’s overall economic resilience and competitiveness.
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