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IT sector to create 25 lakh jobs in 5 years

23 May 2017

IT minister of the nation, I completely deny and refute that there is any downturn in the employment in this sector.

Since the government announced the demonitisation exercise on November 8, number of digital payments through mobile wallets have increase by 104% to 44.3 lakh, 8803% under the unified payment interface to 3.31 lakh and 309% under the Aadhaar Enabled Payment System to 1.58 lakh as of May 17.

"Indian IT companies are spread across 200 cities and 80 countries around the world, which provide direct employment to 40 lakh people and indirect employment to nearly 1.3 crore people. Tendering has been finalized and BPO centres are in the process of being set up in towns like Imphal, Guwahati, Siliguri, Patna, Muzaffarpur, Samastipur, Gazipur, Unnao, Amravati", said the IT Minister.

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"From Rs 11,000 crore investment in 2014, total investment proposals have now increased to Rs 1.43 lakh crore in electronics manufacturing. In 2016-17, the number of people employed was around 1.7 lakh", he said.

The minister said that in the next five to seven years, India's digital economy will be worth an estimated $1 trillion, which is nearly Rs 600 lakh crore. Local production of the iPhone SE started earlier this month ... "Apple has already started production in Bangalore on a modest level and they are in touch with the IT Secretary for further expansion and the talk is going on", Prasad said during an interaction with reporters at a press meet in the ministry. "There was request from IT sector to issue a model request for proposal format", Prasad said.

Now the digital economy in India, which includes sectors such as fintech, communications, e-commerce, cybersecurity and electronics, is estimated at about $270 billion.

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With an aim to "corporatize" its marque digital India project, the government is looking at creating a Digital India Corporation. We are going to hire from private sector.

The Minister said that against a heavy dependence on services, the IT business employment trends are gradually changing to areas such as e-commerce, fintech, virtual and augmented reality, start-ups, data analytics and cyber security. Speaking about the role of McKinsey, Prasad said that parameters will be drawn up to measure the preparedness on various digital indices such as delivery of services, governance, healthcare and education.

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IT sector to create 25 lakh jobs in 5 years