The $250 billion Indian tech sector, employing ~5.4 million people and contributing 7.5% to India’s GDP, is grappling with the daunting challenge of producing more than a million high-tech engineers in fields such as AI, big data analytics or cyber-security over the next 2-3 years that can keep pace with this demand trend.
National Association of Software and Service Companies (Nasscom) has predicted that over half the current workforce requires reskilling, while fresh graduates will fill only a fourth of these job roles.
The so-called “skills gap”, a result of the insufficient real-world experience being taught in Indian schools, is often cited as a problem that could erode the competitive edge enjoyed by Indian IT companies against their global rivals.
According to Nasscom, the digital talent gap is anticipated to grow by 4% from what already stands at a stunning 25%, making it one of the cardinal reasons why continuous upskilling becomes mandatory in order for individuals and companies alike to cope with digitization revolutionizing almost everything.
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