The Indian tech industry is expected to add over 1.38 lakh net new hires in FY2020-21, taking the total employee base to 4.47 million, according to the Nasscom CEO Survey 2021.
The industry continues to be a net hirer, with significant focus on digital upskilling, it showed. The digital talent pool is expected to cross the current 1.17 million, growing at 32 per cent over last year.
Companies upskill 2.5 lakh employees in the digital space every year, the survey said.
As part of its annual strategic report shared on Monday, Nasscom also said that the size of the technology industry is estimated to grow 2.3 percent to $194 billion for the year ending March 2021, compared to $190 billion last year.
Exports rose to an estimated $150 billion from $147 billion last year. The industry grew 7.7 percent in FY20.
Indian tech contributed about 8 percent relative share to the national GDP, with 52 percent relative share in services exports, and 50 percent share in total FDI (based on FDI inflows for April-September 2020).
The deal value for cloud grew 80 percent between April and September 2020, compared to October-March 2020 at the back of COVID-19. The industry also saw 146 merger and acquisition deals, with over 90 percent of them digital- focused.
Digital will clearly be the key growth driver, going forward. The survey indicates that over 70 percent companies expect investment in global technology to be higher than in the previous year. These are likely to be in the areas of cloud, cybersecurity and IoT (Internet of Things).
With faster cloud adoption, 60 percent industry CEOs expect larger digitisation deals in 2021, with investments likely to recover in core sectors including banking and financial services, retail and manufacturing, the survey pointed out.
Speaking to media persons, Debjani Ghosh, President, NASSCOM, said: "As we look at 2021, while there are positives on the vaccination front and accelerated digitisation across verticals, the technology industry in India is well geared to build on these trends and continue its transformation journey in this redefined ‘techade’”.
UB Pravin Rao, Chairman, Nasscom, said: “Digital transformation is the topmost priority for global corporations and in a highly connected world that will remain largely contactless for an extended period. There are shifts in business models, customer experience, operations, and employee experience.”
More than 1.15 lakh tech patents were filed by companies in India in the last five years, the survey pointed out.