Fuelled by the global capability centre (GCC) boom, gross leasing of office space across top eight cities soared 5 per cent to touch 21.4 million square feet (msf) in the second quarter of calendar year 2025, according to Cushman & Wakefield's Q2 India Office Market report.
'Returning Indians can leverage their international skills and the strong funding environment for start-ups here.'
With rapid adoption of emerging technologies, the Information Technology and Business Process Management (IT-BPM) industry is expected to generate about 3 lakh jobs this fiscal year, according to a report. The IT-BPM workforce is on the trajectory to grow 7 per cent in FY23, with the overall headcount increasing from 5.1 million to 5.45 million (close to 3 lakh jobs being created), the report by TeamLease Digital, the specialised staffing division of TeamLease Services said. The 'Digital Employment Outlook Report for H1-2023' highlighted that the demand for digital skills will grow 8.4 per cent by the end of this fiscal year.
Global capability centres (GCCs) remained one of the major drivers of this huge spurt in demand for office spaces.
India's office market was very active in 2024 with gross leasing of workspace witnessing a 19 per cent increase to a record 885.2 lakh square feet across eight major cities, according to Cushman & Wakefield. The gross leasing or absorption of office space stood at 745.6 lakh square feet in the preceding year, data from real estate consultant Cushman & Wakefield (C&W) showed.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and that the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The statement comes in the backdrop of a report by Bank of America that said domestic software firms are set to slash 3 million jobs by 2022 as automation gains pace across industries, especially in the tech space. "With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs. "The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement.
Engineering graduates specialising in artificial intelligence and machine learning can earn up to 24 lakh a year, says Saran Balasundaram, founder and CEO, HanDigital, a talent consulting firm.
Europe is the second largest market for Indian IT-BPM industry
Kolkata excels in business performance with employee headcount and number of engineering students doubling in the last five years.
It said while Indian IT services companies were the "disruptors" and had created the modern offshoring industry, they are now incumbents, challenged by a host of specialised and niche start-ups that have emerged in the new digital environment.
Indian IT-BPM industry raked in revenues of $119 bn in 2014-15.
Software industry body Nasscom on Wednesday appointed Cognizant India Executive Vice Chairman R Chandrasekaran as its Chairman for the year 2014-15.
The Bill says that the central government, in consultation with the Data Protection Authority, can direct any data fiduciary or data processor to provide non-personal data to enable better targeting of delivery of services. The government can also ask data processors to provide data for formulation of evidence-based policies for its own use.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
The report is based on a joint survey by Nasscom and the PricewaterhouseCoopers.
Such partnership will not only give the company an opportunity to showcase its expertise in new technology areas, they will also help in boosting its brand image with clients and employees
By 2022, the entire job landscape would undergo drastic change.
Sector added only 200,000 employees in FY16, down from 230,000 in FY15
Nasscom president said moving from single to multiple points could be a challenge from the point of view of ease of doing business
Rs 1,000 crore for promotion of start ups.
Europe is the second largest market for Indian IT-BPM industry.
Technology market research firm Tech Market View said the contract, which is one of Wipro's largest deals group-wide, signals the growing influence of offshore-centric IT-BPO players in large scale UK outsourcing market.
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
The $108 billion Indian IT-ITeS industry is also witnessing the rise of tier II and III cities like Kochi, Ahmedabad and Kolkata as product hubs.
The industry employs about 10 million workforce.
The information technology sector, India's largest private-sector employer with 3.1 million direct jobs, will witness muted hiring activity this year.
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