Emerging Tech to Create Over 1 Million Jobs in Coming Five Years The overall workforce in the IT industry is projected to grow from 5.4 million to 7.5 million by 2030, adding over two million jobs

In 2024, the Indian Information Technology (IT) sector witnessed a nearly seven per cent decline in hiring compared to previous years. Several reports and analyses cited macroeconomic challenges, ongoing war situations in the Middle East and between Russia and Ukraine, and changing global economic dynamics as key reasons for this downturn. The year also saw India's highest unemployment rate reach 9.2 per cent in June 2024. However, by September of the same year, it declined to 7.8 per cent, according to the Centre for Monitoring Indian Economy (CMIE).

Nevertheless, the IT hiring landscape for the coming years from 2025 to 2030 looks promising, with expectations of recovery and growth driven by emerging technologies such as artificial intelligence (AI), cybersecurity, cloud computing, and data science. According to the latest report by Quess IT Staffing, these emerging technologies alone are expected to generate over one million jobs in India in the next five years.

The overall workforce in the IT industry is projected to grow from 5.4 million to 7.5 million by 2030, adding over two million jobs. This dramatic shift is anticipated due to increased demand across industries.

"India's technology workforce is witnessing a transformative shift. The synergy of traditional skills like ERP (enterprise resource planning) with breakthrough technologies such as AI, ML, and quantum computing presents unparalleled opportunities," says Kapil Joshi, CEO of Quess IT Staffing.

The Quess findings also highlighted that, in addition to the aforementioned emerging technologies, blockchain and quantum computing are transforming industries with innovative application across essential sectors like Banking, Financial Services, and Insurance (BFSI), healthcare, and retail.

The increasing job numbers over the next five years are expected to contribute over INR 12,82,350 crore (USD 150 billion) to the country's economy.

High-Demand, High-Reward Job Roles

Strategic investments in upskilling the workforce will remain crucial to success as emerging technologies advance at an unprecedented speed.

"India has one of the most tech-savvy populations in the world. However, there is still a talent crunch. India's AI talent pool is expanding by 15 per cent annually, while the industry is growing at a faster pace of 25–30 per cent, widening the disparity. Companies are shifting their focus from mass hiring to targeting sector-specific candidates with relevant expertise. Many IT and non-IT firms are also investing in upskilling their workforce in AI to enhance employee efficiency and productivity," emphasizes Edul Patel, Co-founder and CEO of Mudrex.

The report highlights that over the next five years, Indian industries will see significant demand growth for skills like blockchain. Between 2021 and 2023, blockchain-related roles increased by 60 per cent in India. Cloud computing also saw global hiring rise by 30–35 per cent year-on-year in 2023.

Because of the growing demand and the shortage of skilled professionals, Jaideep Kewalramani, COO and Head of Employability Business at TeamLease Edtech, explains company retention strategies in the competitive talent race: "Companies are offering attractive salaries to attract top talent in high-demand areas. For instance, blockchain developers in India earn an average annual salary of approximately INR 6,00,000, with entry-level positions starting at around INR 3,00,000 and senior roles reaching up to INR 31,00,000," he says.

Adding to this, Patel explains, "At the same time, individuals are proactively acquiring new skills to stay competitive. Additionally, businesses are increasingly engaging gig workers for specialized projects, leveraging their expertise to streamline workflows and achieve better outcomes as opportunities grow globally,"

While Bengaluru leads tech hiring with 43.5 per cent, Kewalramani notes that companies are expanding their recruitment and development initiatives to other cities, fostering a broader tech ecosystem across India.

While Bengaluru leads tech hiring with 43.5 per cent, Kewalramani says companies are broadening their recruitment and development initiatives to other cities to foster a more extensive tech ecosystem across India. "Cities such as Coimbatore and Jaipur are experiencing significant growth in hiring, indicating a shift beyond traditional metros. Coimbatore, for example, has emerged as a growing industrial and IT hub, reflecting a shift beyond traditional metros," concludes Kewalramani.