NEW DELHI — Even as India emerges as a global IT outsourcing hub and a breeding ground for technology startups, acquiring specialised skills to meet employer expectations is of utmost importance, a report said on Monday.
Data shows that by 2025, AI is expected to contribute up to $500 billion to India’s GDP, potentially reaching $967 billion by 2035.
According to Sachin Alug, CEO of NLB Services, a technology and digital talent solutions provider, popular upskilling areas include data analytics, machine learning, cybersecurity, banking and wealth management, digital marketing, robotics, AI and cloud computing.
“These programmes can lead to a salary increase of 20-30 per cent in metro cities and 15-20 per cent in Tier 2 and 3 cities,” he said.
Driven by the need to stay relevant, widespread internet access and the rise of e-learning platforms, fresh talent from tier 2 and 3 cities is increasingly enrolling in upskilling courses.
Bengaluru and Chennai lead in upskilling initiatives, followed by Mumbai, Delhi and Hyderabad.
A recent report indicates that only 29 per cent of Indian fresh graduates in white-collar jobs feel secure about retaining their positions in FY25. It showed professionals in the IT, telecom, and tech sectors, especially those with engineering degrees, consider upskilling important for their careers.
The report also highlighted gender diversity in upskilling.
Around 20-25 per cent of women in IT are actively involved in these upskilling programmes, though 30-35 per cent feel underconfident due to a lack of training in advanced technologies like generative AI, robotics, and cloud computing, the report mentioned.
Further, the report noted that the manufacturing sector is expected to generate 5 million new AI-related jobs by 2030. This is in “contrast with retail, which may lose 850,000 jobs by 2025 but gain 4 million new AI-centric roles”.
Hence, he called on policymakers to undertake strategic initiatives to address these evolving needs.
“To succeed in the AI-driven future, a proactive strategy for continuous learning and upskilling is required; otherwise, India may experience instability owing to insufficient upskilling in the IT sector, particularly in AI,” the report mentioned.
The ‘India Skills Report 2024’ forecasts that AI will create 1.6 million new jobs in healthcare by 2030, while finance may see 1 million jobs displaced but also 1.5 million new AI-skilled positions.