CHENNAI: The National Association of Software and Services Companies (NASSCOM) is a trade association of Indian Information Technology (IT) and Business Process Outsourcing (BPO) industry. Established in 1988, NASSCOM is a non-profit organisation.
The Indian IT-BPM industry employing about 37 lakh people will have to revise the skills of about 60-70% of its current workforce to hold its position in the global software service industry in the throes of technology-led disruption, Nasscom said at a human resource summit in Chennai.
The IT industry will also review its workforce requirement and tend towards being conservative as it looks to reduce employees reserved under the Bench category -- personnel not deployed.
Although the Indian industry's share in global offshoring business is about 56 per cent, a dizzying level of market share according to Nasscom President R Chandrashekhar, it needs to buck up ans sharpen its service offiering should it stay in the lead. He said: "The margins in the IT business, though, are coming down but companies have not cut spending. However, they have begun demanding more and newer services."
Chandrashekhar said skills in cloud computing, robotics, and artificial intelligence are much-sought-after skills that IT companies require now. The other set of skills is knowings the ins and outs in a specific field of work: IT in healthcare, or IT in agriculture. IT companies will also seriously review hiring fresh graduates from campuses en-masse and go for targeted hiring of graduates who are experts in certain subjects. "Overall there will be lower hiring but the demand for greater skills is getting bigger," he said.
Chandrashekhar said there will be a negative impact due to the decision of Britain to exit the European Union, chiefly because of the sudden drop in the Pound impacting current contracts and uncertainty over what business opportunities are on offer from a Britain divorced from the EU.
"However, for the long-term these effects will be mitigated and even there are positives on the horizon for the Britain," he said.
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