India – IT industry could see up to 38% fewer jobs in fiscal year 2018

By memberservices@staffingindustry.com (Danny Romero)

The IT industry in India could create 20-38% fewer jobs in fiscal year 2018 compared to fiscal 2017, according to data from IT trade association Nasscom, published in the Times of India.

The data showed that the IT industry would create 130,000 to 150,000 new jobs in fiscal 2018, compared to 180,000 new jobs in fiscal 2017.

The IT sector in India has seen a decline in hiring this year, however Nasscom president R Chandrashekhar stated that while automation was leading to job losses, new ones too were being created.

“Tech is eliminating jobs in every sector, including IT,” Chandrashekhar said. “It is also creating jobs. Countries like the US and UK have been adopters of technology and have experienced the same cycle.

Today, their unemployment levels are close to zero. While there is job loss and pain, ultimately, it is the only route to economic prosperity.”

Chandrashekhar added that the IT industry was fully capable of responding to global changes and said that the industry has been reorganising its workforce to deal with automation and achieve cost savings.

Source:: India – IT industry could see up to 38% fewer jobs in fiscal year 2018