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ManpowerGroup: Asia Pacific QMR Q4 2023 | 21 Demand Trend for Job Vacancies - India Demand Trend for IT Function Job Vacancies by Experience Level India – IT Snapshot ‾ Open IT Job Function Vacancies 407,535 ‾ Time To Fill: 61 Days ‾ 46% of roles filled within 30 days ‾ Hiring: Moderately Difficult ‾ 7% of Roles in the last quarter were Fully Remote IT Job Function Vacancies – India January 2024, YOY Urban inflation was 4.9% GDP growth in India is forecast to be 6.8% in 2024 Sources: Gartner Talent Neuron https://www.wantedanalytics.com https://www.reuters.com/world/india/indias-tech-sector-growth-rate-seen-halving-38-fy24- nasscom-2024-02-16/ https://economictimes.indiatimes.com/tech/technology/tech-industry-revenue-to-touch-254- billion-this-fiscal-nasscom/articleshow/107754547.cmshttps://www.ibef.org/news/cabinet-nod- for-india-ai-mission-with-us-1-25-billion-rs-10-372-crore-outlay-for-five-years https://www.cnbc.com/2024/03/01/india-boosts-chip-ambitions-okays-plants-with-15-billion-in- investments.html ▪ ' $ ' ▪ Promote AI usage through Public- private partnerships ▪ Set-up of 10,000 graphics processing units ▪ Establish an AI marketplace to provide services to innovators ▪ Build computer infrastructure ▪ Support tech startups ▪ Enhance AI skilling initiatives ▪ ' w ' and Micron are investing in 4 new semi- conductor plants. ▪ Gujarat – 3 new units ▪ Assam – semi-conductor assembly and testing ▪ In total, the new facilities are expected to create 20K skilled technology jobs and 60K indirect jobs. In FY23- ' ▪ Was estimated to have 5.43 million employees ▪ Estimated to be worth US$254 billion (YOY growth of 3.8% which was significantly lower than the previous ' ▪ Nasscom (National Association of Software and Services) reported that on average, IT companies spend between 62 and 100 hours upskilling each employee per year. ▪ According to Nasscom, a skills gap exists in AI, data, cloud and cybersecurity. Top Occupations Top Job Titles Top Knowledge Area Software Developers Java Developer SQL Web Developers Web Developer Databases Computer Syst. Analysts Computer Operator APIs ‾ Core skills continue to include: ‾ Communication ‾ Testing ‾ Analysis ‾ Emerging Skills: ‾ Generative AI ‾ Large Language Models Recent investment in IT Projects: Technology Industry in India TalentNeuron