(UNEDITED—$5 TRILLION DREAM: MAKING IT HAPPEN) PLI scheme buoys manufacturing sector, turns it into growth driver. Image Source: IANS News
Bengaluru, May 13 : Driven by various government initiatives like ‘Make in India’ and production-linked incentive (PLI) schemes, the manufacturing sector, along with retail, have joined the tech hiring wave in the country, a report showed on Monday.
While traditional powerhouses like automotive and aerospace continued to lead, there was a significant expansion into emerging areas like semiconductors, electronics and electrical industries in FY24.
“This diversification highlights the industry’s embrace of technological advancements and its focus on innovation in product development and supply chain management,” according to the report by leading business solutions provider Quess Corp.
With the rise of e-commerce platforms and omnichannel retailing, the demand for tech talent skilled in data analytics, AI, and digital marketing has skyrocketed in the retail sector.
When it comes to the overall IT sector, the report said that despite navigating global uncertainties, the sector has resilience and growth potential.
While established functional skills like development, ERP, testing, design and engineering and networking remain in high demand, niche areas like cloud, cybersecurity, and analytics are experiencing a significant surge, indicating a dynamic and evolving IT landscape.
“Looking ahead, we anticipate a rise in IT hiring fuelled by the expansion of global capability centres (GCCs) and the stabilisation of the global economy,” said Kapil Joshi, Deputy CEO of Quess IT Staffing.
Key technological advancements like big data and AI will likely drive this growth.
Bengaluru and Chennai showed the highest tech-focused intent-to-hire in FY24, said the report.
