The Indian job market experiences a significant increase in IT hiring as we move into 2023. Various key factors and trends are shaping this situation, providing opportunities and growth in the tech sector.
The technology sector in India is thriving, despite the challenges posed by the COVID-19 pandemic. Increased digitization, the rollout of 5G, and the demand for tech services are fueling job growth in the country. IT companies are actively recruiting, and there is a surge in salaries, with some roles seeing up to a 50% increase in pay.
The Indian IT sector is showing resilience, defying global trends, and is poised for further growth in 2024. For instance, a survey conducted by Randstad revealed that seven out of ten companies plan to increase their workforce during the first quarter of the year.
The most demanded IT jobs are Technical Project Manager, SAP Vistex Consultant, Sr. Azure Data Engineer, Quality Analyst, Data Engineer, Senior Software Developer, Senior Back-end Engineer, Sr. Application Developer, and more.
Digital skills in IT are in high demand
Proficiency in technologies such as SAP, Salesforce, .NET, data analytics, Java, full stack development, DevOps, and cloud infrastructure will remain strong throughout the year. A recent survey by Indeed found that around 71% of companies recruited IT professionals in the past year.
Specialized IT roles and jobs in the telecom sector are set to drive growth in the job market. The rollout of 5G technology in 2023 is expected to fuel hiring in the telecom sector. High-skilled employees with expertise in futuristic technologies are particularly sought after.
Cryptocurrency-related roles are on the rise, with a significant increase in demand for application developers (Application Developers), data engineers, and full-stack developers. This surge in demand is reflected in the substantial growth of crypto-related job roles over recent years.
Global capability centers (GCCs) are expected to play a crucial role in creating job opportunities. These centers are set to generate over 3.64 lakh new jobs in the next year, reflecting a 38% increase from the previous year, as reported by staffing firm NLB Services.
Bengaluru continues to lead the way in IT hiring, but Tier 1 and Tier 2 cities like Hyderabad, Chennai, Mumbai, Pune, NCR, Ahmedabad, Kolkata, and Jaipur are expected to make significant contributions to the growth of tech roles. Additionally, Tier 2 and Tier 3 cities are experiencing an increase in engineering and R&D jobs, further providing more diverse job opportunities in India.
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The gig economy is on the rise in the retail and e-commerce sectors, offering more flexible work arrangements. Approximately 9 million gig workers are expected to join the Indian workforce over the next three years. Companies are investing in platforms for gig labor, recognizing their importance in the evolving job market.
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The outlook for IT hiring in India in 2023 is promising, with multiple factors contributing to a dynamic job market. As the country continues to embrace digital transformation and new technologies, professionals with the right skills will find abundant opportunities in various sectors.