According to Nasscom, the half yearly financial reports of major IT companies indicate a decline in employment
GN Bureau | March 12, 2018
An inter-ministerial committee has been constituted to draft the National Employment Policy and consultations have been held with various stakeholders including ministries, state governments, trade unions, industry associations etc. for inputs to the policy, parliament was informed on Monday.
Union minister Santosh Gangwar said that International Labour Organization (ILO) has recently been involved for formulation of the National Employment Policy.
Read: Unemployed exchanges
According to National Association of Software and Services Companies (Nasscom), the half yearly financial reports of major IT companies indicate a decline in employment. The drop in the recruitment by the IT industry this fiscal year is due to several factors which include: Some of the less complex, standard and repetitive jobs are being automated; Companies are improving their employee-utilisation levels and reducing bench strength; and companies are employing people with specialised skillsets in newer areas such as data science, machine learning, artificial intelligence and internet-of-things. The growth rate in these technologies and the nature of the business do not necessitate large-scale hiring.
As per Nasscom, the Indian IT-BPM industry is expected to continue to be a net hirer and currently employs nearly 3.9 million people in this fiscal, an addition of 173,000 over last year.
According to Nasscom, the IT-BPM industry, both globally and in India, is witnessing unprecedented changes in technology. Current trend observed is the automation of entire sets of activities that are simple, standardised and rule-based. As a result, few job roles are expected to become redundant over the medium- to long-term. Driven by the impact of disruptive technologies – social, cloud, mobile, analytics, AI etc, the IT-BPM industry in India is fundamentally transforming its business model and building new offerings to emerge as the digital solutions partner. This structural change in the sector requires re-skilling, domain knowledge and enhanced technology competencies. However, these changes also mean that new sets of skills are needed and as such, these are throwing up opportunities for newer job roles.
The stakeholders covering industry, academia and Sector Skills Councils are working to ensure that the existing workforce is re-skilled/up-skilled in emerging technologies and job roles. Most companies (large, medium & small) are also implementing rigorous training programs to re-skill/up-skill their existing employees in new and emerging technologies.
Also read: Rebooting employment exchanges
A three-term Rajya Sabha member, Sanjay Raut is the Shiv Sena spokesperson and its voice in parliament. He is also the executive editor of Marathi newspaper Samana, started by Shiv Sena founder Bal Thackeray. Raut spoke with Geetanjali Minhas on his party’s seat-sharing agreement
Ashish Shelar, 47, was the president of the Mumbai city unit of the BJP, before he became the minister of school education, sports and youth welfare in the Maharashta government this year. He has represented the Vandre West constituency in the state assembly and seeking re-election. In a chat with
The Nobel Prize in economics for 2019 goes to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty." The prize, known as “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”, was announc
Prime minister Narendra Modi has accepted president Xi Jinping’s invitation to visit China in 2020 for their third informal summit after Wuhan and Mamallapuram, indicating both sides’ realization of the importance of the mechanism which gives the two leaders of the Asian giants an opportunity t
Dharma: Hinduism and Religions in India By Chaturvedi Badrinath Edited by Tulsi Badrinath Penguin, 194+ xiii pages, Rs 499 How to live: That is the most fundamental question of human existence.
Prakash Ambedkar, grandson of Dr BR Ambedkar and popularly known as Balasaheb Ambedkar, heads the Vanchit Bahujan Aghadi (VBA). The three-time MP founded this new political party last year with a vision of Ambedkarism, secularism, socialism and progressivism. The VBA, registered this year before the Lo