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India Needs to Upskill Reskill Its Workforce In Digital Technology

Digital skills like Machine Learning / Artificial Intelligence, Low Code Development, Blockchain and Cybersecurity are expected to become base skills by 2030. For more info visit: https://futureskillsprime.in/<br>

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India Needs to Upskill Reskill Its Workforce In Digital Technology

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  1. India Needs to Upskill/ Reskill Its Workforce In Digital Technology to Fill the Demand-supply Gap and Build A Resilient Digital Army

  2. GLOBAL TECHTALENT Demand Supply Gap is a global phenomena; India has one of the lowest Demand Supply Gap (as a percentage ofSupply)in the world at 21.1% Global Tech TalentLandscape DemandSupplyGap,asa%ofSupply 32.0% • India and China are rapidly closing in the tech talent pool with USA; with a high Reskillability index and a large share of adjacent techtalent 30.0% 28.0% USA 4.4M Australia 500K 26.0% UK 1.3M Canada 700K • Tech talent shortage is a global phenomenon-India’s tech talent demand supply gap (21.1%) is the lowest among top tech locations such as USA, China,UK 24.0% China 4.2M 22.0% Size of Bubble - “Tech Talent2021” 20.0% India 3.8M ReskillabilityIndex1 HighReskillability Total Tech Talent is displayed adjacent to eachcountry 18.0% LowReskillability MediumReskillability Note: 1. Reskillability Index - Defined by estimated growth in Digital Tech Talent pool that can be gained by reskilling theworkforce Source: Crunchbase, Company Annual Reports, Microsoft Work Trend Index2021.

  3. INDIA - TECH INDUSTRY EMPLOYEE BASE & TECHTALENT TechIndustryTechTalentstandsat3.8Min2021, representingover80%ofthe4.7MTechIndustry employeebaseinIndia Tech Industry Employment in India (FY2021)(Millions) Tech Industry EmployeeBase:Definitions Consists of the talent employed in all 10 technologies that are defined under the “FutureSkills” subsector. Essentially, this consists of the AI & Big Data Analytics, IoT, Cloud Computing, Cyber Security, RPA, Blockchain, AR/VR, 3D Printing) as well as professionals employed in Web and Mobile Developmenttechnologies Digital Talent Consists of the tech talent employed in traditional/core tech (outside the Digital Talent Pool) which includes Network & Systems, IT Infrastructure, IT Support, Database, Test/QA, Legacy SoftwareDevelopment, Blockchain Technology Courses, Artificial Intelligence Courses, Cyber Security Course. Core Tech Talent Consists of non-tech talent employed in the technology sector in India which includes areas like Sales & Marketing, HR, Admin etc is excluded from this analysis. Non-Tech Talent Consists of total talent employed in the technology sector in India which includes tech & non-tech employees. This includes companies in the IT Services, BPM, Engineering R&D, GCCs and Software Products sectors. TechIndustry Employee Base Source : Draup’s Proprietary Talent Database,NASSCOM

  4. EVOLUTION OF TECHSKILLS AI/ML, Low Code Development and Cybersecurity have grown substantially in the past decade to become Base skills for the upcoming decade; Blockchain, AR/VR and Quantum are expected to follow a similar trend in the comingdecades 2001-10 2011-20 2021-30 Note: The analysis has been conducted taking into consideration “Rate of Change in Skills across Employed Professionals” and “Employed Talent across a Particular Skill” over the years. Insights for the period 2021-30 have been derived by statistical extrapolation of rate of adoption of technologies and skills over the period 2016-21. The above analysis is notexhaustive.

  5. SUMMARY • Tech Industry TechTalent • Tech Industry Tech Talent Pool at 3.8M in 2021,represents • over 80% of the 4.7M Tech Industry employee base inIndia INDIA’S TECH INDUSTRY TECH TALENTPOOL Tech Industry Tech Talent Demand Supply across JobFamilies • Tech Industry’s Digital Tech Talent growing 5x fasterthan • Core Tech Talent, accounting for 30-32% of techtalent • Tech Industry Tech Talent Demand SupplyGap • and FutureProjections • Demand supply gap for digital talent is expected to increase 3x+ by 2026 to1.4M-1.8M

  6. SUMMARY • Evolution of the Tech SkillsLandscape • Digital skills like Machine Learning / Artificial Intelligence, Low Code Development, Blockchain andCybersecurity expected to become base skills by2030 GLOBAL TECHTALENT Global Tech Talent & ReskillingCapabilities • Most developed countries have low to medium tech talent reskilling capabilities and relatively low growthrates • India has been robustly reskilling its non-tech & Core Tech workforce into Digital tech talent at a very fast pace • Global Tech Talent Demand SupplyGap • Tech talent shortage is a global phenomenon- India’s tech talent demand supply gap (21.1%) is the lowest among top tech locations such as USA, China,UK

  7. EXECUTIVE SUMMARY Global TechTalent India’s Tech TalentStrengths • India has one of the largest annual STEM graduates supply, standingat • 2.14M in 2020-21 with a world leading 47.1% femalediversity • Indian firms are increasingly focusing on L&D initiatives; L&D professionals more confident about growth in L&D investments in India in thefuture • 6 Mature Tech Hubs (Bengaluru, Hyderabad, Mumbai, Pune, Delhi, Chennai) account for >85% of India’s Digital Talent • Demand supply gap in Tech talent is a global phenomenon; India has a demand supply gap in at 21.1% (as a percentage of supply)- lowest among top tech locations such as USA, China, UK • India and China are rapidly closing in the tech talent pool with USA; withahigh reskillability index and a large share of adjacent techtalent Tech Industry Tech Talent –India* WayForward • Need to reskill and upskill its Core Tech talent into Digital Talent roles to build a resilient workforce for thedecade • Increased corporate-university collaborations can provide relevant tech skills to 65% of Computer Science, IT and Math streams related graduates who currently do not possess adequate skills to be employable in techroles. Thus taking up relevant technology courses online can make big difference. • Government should invest in SEZs, talent reskilling programs, tax concessions and education curriculum enhancement to drive India’s tech talent • India’s Tech Industry Employee base is estimated to reach 5.1M in FY2022 from 4.7M inFY2021 • India’s Tech Industry Tech talent pool stands at 3.8M inFY2021, • representing over 80% of the 4.7M Tech Industry employeebase • Digital Tech Talent growing 5x faster than Core Tech Talent, accounting for 30-32% of techtalent • Demand supply gap for Digital Tech Talent is expected to increase3.5x+by 2026 to1.4M-1.8M • Increasing technology adoption across domains such as cloud computing and Machine Learning / Artificial Intelligence is driving the demand for Digital tech talent acrossindustries • Organizations can utilize talent in tier 2 and 3 location to scaleoffice locations; utilize strategies specifically targeted towards individual tech job families based on automation potential and scalability of job families Note: * Comprises of Digital tech talent and Coretech talent. Does not include non-tech talent. Numbers might not add up due to rounding off

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