As Tata Consultancy Services (TCS), gets ready to lay off about 12,261 employees from its global workforce this year, here's what it means for your career.
Organisations today are more focused on candidates' skills that will not only add business value to the organisation but also help them thrive.
The Big Four accounting firms have increased the hiring of people from technology backgrounds in India amid an increased focus of clients on digital transformation, especially after the Covid-19 pandemic. EY India said that it has expanded its overall tech talent pool by 3x in the last three years across service lines including consulting, tax, assurance, and strategy & transactions. "Today over 50 per cent of our workforce is from STEM (science, technology, engineering and mathematics) and technology background," it said, adding that it continues to hire significantly in the areas of AI, cloud computing, data analytics and cybersecurity to help its clients in transformation.
'It is good to have the H1-B visa option but if tomorrow things happen to change, it is not the end of the world situation.'
Professionals will be required to either learn new tech skills that focus on AI, cloud computing, or risk becoming obsolete, says Arun Prakash M.
'India is a very strategic geography. The business is growing over 37-38 per cent year-on-year.'
Farm workers and drivers will figure among the fastest growing jobs over the next five years, while roles of cashiers and ticket clerks will see the largest decline, a new study showed on Wednesday. In its Future of Jobs Report 2025, the World Economic Forum (WEF) also said that 170 million new jobs will be created by 2030, while 92 million are projected to be displaced, resulting in 78 million net new jobs.
rediffGURU Pradeep Pramanik, career coach, placement consultant and director of Fast Track Career Consultants, shares useful tips to land your dream job while you're still in college.
For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India's demographic dividend, technological innovation, and sectoral transformation, according to the "India@2047: Transforming India Into A Tech-Driven Economy" report by Bain & Company and Nasscom. By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent, both playing a pivotal role in economic expansion.
The 15th India-Vietnam Defence Dialogue signalled a move from routine talks to deeper cooperation, with new deals on submarine rescue and defence industry to support stability in the Indo-Pacific, notes Dr Rajaram Panda.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
If you want to inspire the young workforce, focus on building transparency, purpose and social responsibility, says notes Varun Sachdeva, SVP and APAC head, NLB Services.
'For 40 years, India valued only technical skills. IITs, coding -- that became everything.' 'Soft skills were sidelined. But those are the skills that will keep you employable now, not technical skills.'
'You don't need massive industry or huge energy resources.' 'You could start with just 3 or 4 people in a coffee shop and invent the world.'
The eight-month intensive programme is designed to help professionals develop comprehensive expertise across both data science and decision science, said IIT-Delhi.
'As the demand for transferable skills that can be remotely applied increases, the need for tech-based courses is on the rise/'
Industry leaders are predicting hybrid cloud to be the next biggest trend in cloud computing.
Technology is rapidly reshaping industries that have long been rooted in tradition, driving a wave of innovation that is transforming everything from finance, banking, steel to manufacturing.
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
'This means that there will be more than 1,000 tech talent in India over the next 12-18 months.'
IT services major HCL Technologies (HCLTech) on Monday reported a 10.51 per cent increase in consolidated net profit to Rs 4,235 crore in July-September quarter of FY25, as the company raised the lower band of its growth guidance on the back of better-than-expected performance. The Noida-headquartered firm had posted a net profit of Rs 3,832 crore in the year-ago period. HCLTech increased the lower band of its revenue growth guidance to 3.5-5 per cent year-on-year in constant currency, against a guidance of 3-5 per cent in the first quarter.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
'That refresh programme -- because they are big aircraft and we cannot ground them all at the same time -- will last well into 2027.'
By understanding the elements that rule your birth number, you can learn how to enhance your professional journey, improve your work life and grow in your career.
'This is a race where every technology can be used by the bad guys and good guys.'
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
World Bank president Ajay Banga is among the Indians who have made it to the prestigious Times's list of 100 most influential people in the world released on Wednesday. Time's profile of the former Mastercard CEO, written by US Treasury Secretary Janet Yellen, said, "It's not easy to find a leader with the skill and drive to take on the monumental task of transforming an essential institution, but since becoming World Bank president last June, Ajay Banga has done just that." She said Banga comes to the World Bank after leading a global organisation through which he brought millions of unbanked people into the digital economy.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Marriott International will set up a global capability center (GCC) in Hyderabad, which will be its first such offshore unit in India and will help support Marriott's various operations across its global enterprise in 141 countries and territories. Marriott Tech Accelerator is also -- in all likelihood -- the first ever GCC from a hospitality major being set-up in India. While the company did not give details of the size of the center, senior state government officials said that the company will hire 300 people by the first quarter of the calendar year 2025.
Tech giant Microsoft on Wednesday launched a new programme Microsoft AI Innovate for nurturing and scaling start-ups that are leveraging Artificial Intelligence (AI). The 10-week initiative will support start-ups in India leveraging AI technologies, helping them scale operations, drive innovation, and build industry expertise. Both B2B and B2C start-ups from various industries, including financial services, healthcare, education, agriculture, space, manufacturing and logistics, retail, and e-commerce can participate in the quarterly cohorts of this programme.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
India has its share of both large tech companies and large national laboratories, but why is it that these don't seem to be at the forefront of any innovation news headlines? asks Ajit Balakrishnan.
The role of AI spans coaching, performance, learning, engagement and career growth.
'I eagerly await the day when we can experience a truly great Bollywood movie rooted in pure historical facts, one that authentically showcases the essence of our armed forces for Indian audiences,' notes Air Commodore Nitin Sathe (retd).
Retail investors have become a force to reckon with in the last 10 years with their ownership of Indian equities rising 800 basis points, or 8 per cent, to 23.4 per cent during this period, suggests a recent note from Morgan Stanley. This number, Morgan Stanley said, is set to rise in the next few years as Indian households are still underinvested in equities. India's demographics, policy framework, investor education and modest positive real rates, it said, will fuel the 'equity cult' in India.
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
Individuals who can understand data and go for data driven decisions making using their critical mind will be highly valued.
We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
