Talent Shortage- A big challenge for the Indian IT Industry

India's IT services sector is booming. Everyone seems to be looking for talent that can help them expand their business in this niche, from small IT companies to large multinational corporations. While the country is experiencing a meteoric rise in its own digital and technology start-up, it continues to serve global corporations.

The Indian IT industry has been a major contributor to the country's economic growth and has played a crucial role in establishing India as a global hub for technology and innovation. However, the industry is currently facing a major challenge in the form of a talent shortage.

While there are numerous benefits to working as an IT professional in India , the country continues to face numerous hiring obstacles. The majority of ex-pats still have a lot of concerns about how much it will cost to survive, and businesses have trouble finding qualified workers at reasonable rates.

According to a report by nasscom , the Indian IT industry is expected to face a talent deficit of around 2.5 million skilled professionals by 2025 . This shortage is a result of several factors, including an increasing demand for skilled professionals in the industry, a lack of trained professionals in the market, and a growing gap between the skills required by the industry and those possessed by the available talent pool.

One of the major reasons for the talent shortage in the Indian IT industry is the increasing demand for skilled professionals. With the rapid pace of technological advancement, the industry is constantly evolving and there is a constant need for professionals with the latest skills and expertise. This demand is further fueled by the growing number of companies entering the market and the expansion of existing ones.

However, the available talent pool is not able to meet this increasing demand. This is because the education system in India is not able to produce enough professionals with the required skills and expertise. While there are many engineering institutions in the country, the quality of education they provide is often not up to the mark, leading to a large number of graduates who are not employable.

Compensation and the desire for entirely remote or more adaptable work environments were the most common causes of developer turnover, according to the report. Over 2,500 people from 94 countries participated in the current survey, including system administrators, DevOps specialists, front-end, back-end, full-stack developers, and many more.

Key pinch points

• In the past year, 56% of Indian respondents have participated in open-source projects, and 71% of those respondents claim that their participation has increased since the pandemic.
• 67% of developers have not yet implemented blockchain or Web3 technologies, despite the hype surrounding them.
• ?In India, attitudes toward low-code and no-code tools are more favorable: 23% say they make it easier for them to do their job, and 18% say they let them concentrate on more important tasks. While 21% of the sample agrees that these tools are overhyped, only 15% of respondents say so.
• Utilization of compartments and serverless engineering is marginally lower in India than by and large, with 55% saying they use holders, compartment organization frameworks, and microservices, contrasted with 68% of all respondents. 32% are utilizing serverless engineering, contrasted with 44% altogether.
• In India, a slightly higher percentage uses or plans to use automation (AI/ML) and blockchain technologies. While only 33% of the total sample uses blockchain technology, 55% of those in India do. Moreover, 13% of Indian respondents accept they will utilize open hotspots for blockchain advancements one year from now, contrasted with 7% of complete respondents. 68% of the sample uses automation, while 57% do not.

To address the talent shortage in the Indian IT industry, there are several measures that can be taken. One such measure is to focus on upskilling and reskilling the existing workforce. Many professionals in the IT industry are not able to keep up with the rapid pace of technological change and their skills become obsolete. By providing training and development opportunities to these professionals, companies can ensure that their workforce remains relevant and can meet the changing needs of the industry.

Another potential solution to the talent shortage in the Indian IT industry is the increased use of automation and artificial intelligence (AI). While these technologies have the potential to replace certain jobs, they can also create new opportunities and help to reduce the demand for skilled labor. By implementing automation and AI, companies can reduce the burden on their human workforce and allow them to focus on more complex tasks that require higher levels of skill and expertise.

The government can also play a role in addressing the talent shortage by investing in the education system and providing incentives to companies that hire and train local talent. This can help to bridge the gap between the skills required by the industry and those possessed by the available talent pool.

Additionally, the Indian IT industry can look towards other countries to fill the talent gap. While the industry has traditionally relied on domestic talent, there is a growing trend toward the use of remote workers and offshore teams. This allows companies to tap into a global pool of talent and hire professionals with the required skills, even if they are not based in India.

The talent shortage in the Indian IT industry is a complex problem that requires a multi-faceted approach to address. While there are no easy solutions, a combination of efforts by the industry, academia, and the government can help bridge the gap between the demand for skilled professionals and the available talent pool. By working together and adopting new technologies and practices, the industry can overcome this challenge and continue to thrive in the face of increasing competition and technological advancement.