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Hiring for skilled tech roles touches 5 year high, increases 52% from pre-Covid levels

The aggressive hiring of tech jobs has been done by India’s largest companies such as TCS, Infosys and Wipro with a total hiring of 1.21 lakh people in last six months due to peak demand as global enterprises invest in digital.

Continuing on the declining unemployment rate, positive news on the massive increase in IT companies in the month of June 2021 has also come out. 

The sequential job growth in the IT sector was also facilitated by the hyper-digitization due to the COVID-19 pandemic, creating a robust demand for software services.

India’s top 10 IT companies together hired 1.21 lakh people in six months ended June 2021, the highest for this period in the last five years, according to a report by Naukri. As per the report, the sector witnessed an increase of 52 per cent in hiring activity in June this year, when compared to the hiring in June 2019 and a 14% growth in hiring in May versus April was recorded. 

The IT sector took a hit due to nationwide lockdowns last year, but has bounced back with exponentially, with a 163% hiring growth in June’21, with some of India’s largest companies like TCS, Infosys and Wipro having double-digit revenue growth this year.

The jobs that are in high demand are data scientists, full stack engineers, cybersecurity professionals, cloud architects, and artificial intelligence experts, with almost a lakh jobs open for data scientists. 

“With the year 2021 seeing a strong wave of hyper-digitization, the IT sector continues to drive hiring, recording a robust 14% sequential growth in May 2021,” said Pawan Goyal, chief business officer, Naukri.com.

Similar views were shared by Ramkumar Ramamoorthy, Pro Vice-Chancellor for Professional Learning at Krea University and former Chairman and MD, Cognizant India, and he said,”The pandemic has materially accelerated the digital transformation agenda of large corporations, leading to an outsized hiring of talent with new-age skills. With large and mid-sized IT services companies bouncing back to double-digit revenue growth, as well as global captives feverishly expanding their base in India, we are seeing an unprecedented war for talent.”

“I would not be surprised if the top 10 technology companies alone see a net headcount addition of over 200,000 employees in India this financial year” he added.

In fact, just last year, the Union Government announced some major reforms in India’s IT sector for a conducive growth, which was later welcomed by many industry leaders. 

The IT sector’s share in the GDP has grown from 0.4 percent in 1992-93 to 8 percent now. Its size has expanded to $194 billion from $150 million in 1991.

Moreover, the overall job loss rate in the country dropped to a four-month low of 6.95% compared to 9.17% in the month of June, according to the latest data from CMIE.

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