NASSCOM rebuffs false claims of 3 million job cut In TCS, Infosys, Wipro, etc., says IT industry will continue to be a net creator of jobs

Recently, a Bank of America Securities report unveiled that the Indian IT companies could see a massive loss of 3 million jobs by 2022 due to Robotic Process Automation (RPA) upskilling. However, the report has been claimed baseless and fake by NASSCOM president Debjani Ghosh. NASSCOM is an Indian non-governmental trade association that is dedicated to expanding India’s role in the global IT sector. 

NASSCOM clears air 

The Indian IT industry body NASSCOM clarified that the Indian IT-BPM sector continues to be a net hirer of skilled talent. It said in a statement that with the evolution of technology and increasing automation, the nature of traditional IT jobs will evolve which will lead to the creation of newer jobs. It even said that the industry has added 1,38,000 people in FY2021.

We would like to clarify that the data points shared in this article by @indiacom are not from any NASSCOM report.

The industry has & will continue to be a net creator of jobs & is committed to people-centric innovation, & relentless talent focus. https://t.co/aOF4PVdg5X

— NASSCOM (@nasscom) June 18, 2021

Ghosh tweeted, “Seriously don’t get why publications don’t verify data and use the right source! Not only r tech cos increasing workforce, but we have more demand than supply in several emerging areas like data analytics, etc. We need to keep up and upskill fast .. the jobs exist.”

Net creator of jobs 

The agency reported that the IT sector has honed the existing digital skills of its 2.5 lakh employees and hired more than 40,000 freshers. Currently, the IT-BPM sector’s revenue is capped at about $194 billion. It is all set to become a $300-350 billion industry by 2025 with a strong deal pipeline. 

It also has robust hiring plans for FY2022 and plans to add more than 96,000 employees to the top five Indian IT companies. As of March 2021, the sector employs an overall of 4.5 million people. 

Besides this, NASSCOM stated that both the RPA and automation have been maturing in the last three years which has created in the IT-BPM sector a plethora of job opportunities.

Also Read: Infosys to hire graduates with Google career certificates in India

BPO Industry - Booming with jobs

NASSCOM affirmed the fact that the BPO industry in India is constantly flourishing, innovating, and reimagining processes for customers all around the world. The IT industry has profited a lot during the pandemic and reaped maximum benefits. 

The firms saw record deal wings during the COVID19 pandemic. For example, TCS notched up deals worth $9.2 billion Q4 FY2021, which is its most soaring record ever in a quarter amidst a total of $31.5 billion over the last fiscal year. 

Likewise, its peer Infosys clocked up $14 billion in total and Wipro signed 12 great deals with a contract value of $1.4 billion in the fourth quarter of the financial year 2021. 

NASSCOM is committed to being a massive creator of jobs and shall relentlessly focus on talent, innovation, and a superior customer experience.

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