NEW DELHI: As India emerges as a global IT outsourcing hub and a breeding ground for technology start-ups, acquiring specialised skills to meet employers' expectations is of paramount importance, a report said on Monday.
According to data, AI is expected to contribute up to $500 billion to India's GDP by 2025, which could reach $967 billion by 2035.
According to Sachin Arugu, CEO of NLB Services, a technology and digital talent solutions provider, popular upskilling areas include data analytics, machine learning, cybersecurity, banking and asset management, digital marketing, robotics, AI and cloud computing.
“These programmes are expected to result in salary increase of 20-30 per cent in metros and 15-20 per cent in tier II and III cities,” he said.
The need to keep up with the times, widespread internet access and the rise of e-learning platforms are leading to an increasing number of new talent in tier-2 and tier-3 cities enrolling for upskilling courses.
In terms of upskilling efforts, Bengaluru and Chennai have led the way, followed by Mumbai, Delhi and Hyderabad.
A recent report found that only 29% of Indian graduates entering white-collar jobs are confident of retaining their positions in FY25. IT, communications and technology professionals, especially those with engineering degrees, are found to consider upskilling important for career advancement.
The report also highlights gender diversity in skill development.
The report said that while around 20-25 per cent women in the IT industry are actively participating in such upskilling programmes, 30-35 per cent feel lack of confidence due to lack of training in advanced technologies such as generative AI, robotics and cloud computing.
Additionally, the report notes that manufacturing is expected to create 5 million new AI-related jobs by 2030. This “contrasts with retail, which could lose 850,000 jobs by 2025 but gain 4 million new AI-centric positions.”
He therefore called on policymakers to undertake strategic initiatives to address these changing needs.
“To succeed in an AI-driven future, a proactive strategy for continuous learning and upskilling is required. Otherwise, India may find itself vulnerable to insufficient upskilling in the IT sector, especially in AI,” the report said.
The India Skills Report 2024 predicts that AI will create 1.6 million new jobs in healthcare by 2030, while the finance sector may lose 1 million jobs, while creating 1.5 million new jobs requiring AI skills.
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