With a growth prediction of 8%, the Indian Information Technology-Business Process Management(IT-BPM) industry will add 1,05,000 people to the current 3.97 million workforce, in 2018, according to the latest figures published by the National Association of Software and Services Companies (NASSCOM).
According to NASSCOM estimates, the sector will grow from $154 billion in the fiscal year 2017-18 to $ 167 billion (excluding e-commerce) by the end of 2018—an addition of $12 billion
According to a recent report published by the industry body, the IT-BPM industry, in Hyderabad and across the country, is currently ‘reinventing’ itself to become one of the leading destinations for delivery of digital services.
“The IT-BPM industry growth in Hyderabad has traditionally been 3 to 4% higher than the national average growth and we expect this trend to continue in 2017. We hope that hiring in the industry will improve in 2018, due to new organizations setting up base in Hyderabad and Telangana. Maximum traction will be observed in the digital technologies, services and solutions domain-—which has been growing at 30% year-on-year in India,” said Srikanth Srinivasan, Regional Director for NASSCOM, Telangana.
According reports, the digital technologies industry will grow from $ 16 billion in 2017-18 to $ 25 billion in 2018-19. “New jobs that will be added to the IT sector in 2018 will be in the area of advanced digital technologies such as Artificial Intelligence, machine learning, cloud-based services and solutions and Internet of Things . 3-D printing is another area expected to witness a lot of traction and adoption, in 2018,” Srinivasan added.