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The association of the Indian IT and BPM industry, NASSCOM has refuted a report which suggested that the country’s IT firms will remove 3 million employees by 2022 due to the faster adoption of automation. Increased automation will lead to the creation of new jobs, NASSCOM said in a statement. The mentioned report had been released by the Bank of America On Wednesday and had estimated that 3 million or about 30% of current jobs in low skilled and BPO roles would be lost to automation in India.
NASSCOM informed that the Indian IT industry had created 1,38,000 additional jobs in FY2020-21 and that the industry continues to be “a net hirer of skilled talent.” Of these, more than 40,000 were freshers.
As #technology evolves, #NASSCOM firmly believes that in the long run, automation will lead to the creation of more jobs and evolved job roles. With an addition of 138,000 people in FY2021, the Indian #IT industry continues to be a net hirer of skilled talent.@debjani_ghosh_
— NASSCOM (@nasscom) June 17, 2021
In a statement, NASSCOM maintained that the industry would continue to be a net hirer in the financial year 2021-22 with the top-five IT companies in the country planning to add more than 96,000 employees. This translates to a year-over-year employee base growth of 8%. The association further claimed that it had upskilled more than 2,50,000 of its employees during fiscal 2020-21.
Addressing the widespread fear of job losses due to robot process automation(RPA), the IT body said that switch to automation would create more jobs in the long run and the job roles would get evolved.
Talking of the health of the IT industry, NASSCOM said that the top 5 companies in the sector had bagged deals of about $17 billion in FY22 and claimed that the industry is on track to attain a valuation of $300- $350 billion by the year 2025. “67% of CEOs have predicted higher growth in 2021,” it added.