The IT sector may continue to witness soft demand for projects due to the ongoing macro-economic scenario and this is expected to further have an impact on the overall headcount by 20-25% in H1FY24. Despite the IT hiring freeze, non-tech sectors have continued their eagerness to hire for technology-focused roles requiring niche skill sets. The post covid era saw tourism, banking, hospitality, healthcare, real estate, manufacturing, retail, automotive and more non-tech industries recovering steadily. Consulting majors like the Big Four, too, have big plans to ramp up hiring for tech roles and leverage the local talent pool in India.

“The skill domains which are experiencing major demand from non-tech industries range across Big Data, 5G, AI/ML, Cybersecurity, UI/UX, DevOps, and Cloud, to name a few. Additionally, corporates are expected to increase their upskilling budget by 12-15% this FY” says Sachin Alug, CEO, NLB Services.

The telecom industry in India is growing constantly with the onset of 5G services in the country. The speedy 5G rollout will require skilled professionals who can design and implement the 5G framework in the coming time. We expect an increase of 25-30% in the demand for tech talent in the telecommunication industry during the current year compared to figures seen in the previous year.