Chennai, July 17 2019: The National Association of Software and Services Companies (NASSCOM) today showcased the progress witnessed through the FutureSkills initiative on the sidelines of their annual HR Summit in the city. Debjani Ghosh, President, NASSCOM and Kirti Seth, FutureSkills NASSCOM, touched upon the industry’s participation in their FutureSkills initiative since its inception and their future roadmap for the platform.
The industry has recorded an increased demand in digital skills over the past year with the digital transformation wave driving the industry. For a competitive advantage in the industry, several organisations are adopting new age technologies to remain relevant.
The industry is witnessing rising investments towards skilling initiatives in technologies such as AI, ML, Data Science, cyber security, Cloud, Blockchain and several others in other practices. The Indian IT-ITeS Industry digital talent base has been growing at an excess of 20% YoY and today there is an installed talent base of around 260,000 in cloud computing, 185,000 in AI & Big Data Analytics, 185,000 in Social media and mobile platforms and 170,000 in IoT. The skills being evolved within these technologies include development of applications and effective systems, data management, designing use case platforms for operations and working directly with the technology to apply it in day to day practices.
NASSCOM’s FutureSkills initiative is on the path to position India as the talent hub for emerging technologies and pioneer in global digital capabilities. An industry utility for skills development in 10 emerging technologies, 10 professional skills, 70+ job roles and 155+ technical skills, the platform is a complement to the government’s Digital India initiative. The demand for digital talent is projected to grow significantly high- at 35% CAGR between FY2019-2023. In FY2023, at our current trajectory the requirement will rise to 2.3-2.7 million digitally skilled professionals.
Having already identified and developing models for 10 emerging technologies in the industry, the platform is also inculcating professional skills going forward. These include problem solving, design thinking, continuous learning, communication & story-telling, negotiating & influencing, collaboration, project management, product management, program management and digitalization. With over 300,000+ employees committed to the FutureSkills platform, it has risen at over 1.5 times over the past year. There are over 100 universities and firms that have nominated their talent to be reskilled using the platform. The platform has over 30 partners developing over 40,000 content pieces and an additional 6,500 content pieces are being curated by domain experts from the industry and academia.
Going forward, NASSCOM aims to transform India by enabling Digital@Scale through the FutureSkills initiative. The immediate objectives include transforming 100 universities to supply digital talent, upskilling 4 million professionals by 2025 and driving the STEM to STEAM transformation and ensuring its implementation across the industry. Through this NASSCOM aims to be recognised as the Government’s Digital India initiative partner, building on their mission to make every citizen digitally literate.
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