The demand for talent with tech skills such as SAP, development, automotive design, testing, and infra support, has seen a surge in the first quarter of the current fiscal (Q1 FY24), a report by Quess Corp, one of the leading business solutions providers said. 'The Skills Report’ also offers insights into the technology skills enabling the future of work in India.
78 percent of aggregate demand emerged from 5 tech skill suites
Among functional skill suites with the highest intent-to-hire in Q1FY24, development roles (28 percent) held the highest share, it added.
The report added that the demand for SAP (16 percent) expertise has consistently remained high, especially within the consulting and GCC (Gulf Cooperation Council) client domains.
The global and Indian automotive sectors are experiencing a surge in demand for talent, leading to automotive design (14 percent) being another one of the top skills in demand. Moreover, there is an increase in demand for testing skills (12 percent) in both manual and automated domains.
Across several industries, demand for IT infrastructure support skills (8 percent) remains consistent, encompassing both L1 and L2 support.
Industry-wise demand for digital skills
India's IT sector (15 percent) emerged with the highest share for tech skill demand, followed by banking, financial services and insurance (BFSI) at 15 percent, and digital engineering (13 percent). Telecom and healthcare industries have also seen improved sentiments.
Tech hiring in IT sector
Hiring activity across India was primarily dominated by IT hubs in the southern and western states of Tamil Nadu, Karnataka, Telangana, Maharashtra, with Haryana as a standout in the northern region. Moreover, there's an upswing in hiring across tier 2 and 3 cities, particularly in e-commerce and financial services firms.
“Amid macroeconomic headwinds affecting the US and Europe, the IT services sector faces a downward hiring trend of 25-30 percent. However, this situation has opened up new opportunities, with GCCs ramping up talent acquisition and projecting an estimated employee strength of 1.4 million, hiring is likely to increase by 10 percent," Vijay Sivaram, CEO, Quess IT Staffing said.
"Our nation is currently at the forefront of global technology advancements, benefiting from the best demographic play and a highly educated STEM talent pool. The Indian stock markets continue to outperform, reflecting the confidence of investors in our thriving tech sector.”
Upskilling across industries has been a strategy adopted to bridge the emerging skill gap in employees.
