Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
IT nasscom
August 24, 2021

India Can Become World’s Second-Largest Cloud Talent Hub: Nasscom

admin Financial Technologies Cloud Computing, nasscom

By BW CFO World Online Bureau

Infrastructural agility, flexibility, and resilience on cloud with significantly lower costs, especially post the pandemic, have been the key growth drivers for such a shift

India has the potential to become the world’s second-largest cloud talent hub with the combined effort of government bodies, education and skilling organisations and technology providers, IT industry body Nasscom said on Monday.

Nasscom, in association with Draup, said in a report that India currently ranks third globally with an installed talent pool of 608,000 (FY2021) cloud professionals.

‘By 2025, India would have an estimated 1.4-1.5 million cloud professionals (baseline growth). However, with an estimated demand for over 2 million professionals by 2025, India could reach 1.7-1.8 million cloud talent pool with a fairly aggressive skilling roadmap,’ the report titled ‘Cloud Skills: Powering India’s Digital DNA’ said.

Tata Consultancy Services (TCS) and Accenture were strategic partners for the research effort.

India’s cloud market is estimated to reach USD 5.6 billion by 2022, a 26 per cent year-on-year growth.

With rapid digital acceleration and everything becoming on-demand and need-based, migration to cloud-based services will provide a significant competitive advantage for SMEs and enterprises in the new normal.

This is further expected to grow exponentially with accelerated cloud adoption across sectors.

Infrastructural agility, flexibility, and resilience on the cloud with significantly lower costs, especially post the pandemic, have been the key growth drivers for such a shift, the report said.

The Indian SaaS (software as a service) startup ecosystem is another driver of cloud demand, it added.

SaaS companies in India employ over 40,000 professionals across job domains, more than any other tech startup segment, Nasscom said.

With a baseline growth of 24 per cent CAGR, India’s cloud talent pool is expected to grow 2.4X to nearly 1.5 million by 2025.

However, there is an urgent need to scale talent further — talent with the right skillsets — that will help meet this demand, it said.

The report estimates that with a more aggressive talent building roadmap (30 per cent-plus growth rate), India can increase its cloud talent pool to between 1.7 to 1.8 million and in the process, become the world’s second-largest cloud talent hub.

‘Cloud adoption has witnessed an accelerated adoption during the pandemic as enterprises focused on building hybrid work models, collaboration infrastructure and business continuity.

‘Cloud has moved from being a relative back-end to a front-end (business-facing) technology, enabling on-demand access to resources,’ Nasscom President Debjani Ghosh said.

For India to carve itself a unique identity as a global hub for cloud solutions, a concentrated public-private partnership and large-scale skilling is the key, she added.

Nasscom has set up its FutureSkills PRIME initiative in partnership with the Ministry of Electronics and Information Technology (MeitY) to upskill talent in emerging technologies and cloud skills are a key area of focus on this platform, she said.

The report said the demand for cloud solutions is growing exponentially, both in India and worldwide, leading to a higher demand for cloud talent as well.

India saw about 380,000 job openings for cloud roles in 2020, a 40 per cent growth over 2019. The demand for cloud skills far outweighs the current supply and needs focus across stakeholders on upskilling, it added. 

(PTI)

→

CFOs Should Appreciate Human Sensitivities At Workplace And Balance Needs Of Disrupted Business COVID-19 Unlocking Led Economic Recovery Deepen In July: ICRA Report

Related Posts

sucheta branch int

Financial Technologies

How Fintech Is Revolutionising The Indian BFSI Sector

AI

Financial Technologies

Meet The AI Enabled CFO

sean narayan article

Financial Technologies

AI Revolutionizing A Post-Pandemic Era For Financial Institutions

Movements

  • adobe danDan Durn Appointed As Adobe’s New Chief Financial Officer
  • Vineet Mahajan_Vineet Mahajan Appointed As New CFO Of Avanse Financial Services On Sept 27
  • bharat pet director financeVetsa Ramakrishna Gupta To Lead Bharat Petroleum As Director Finance
  • tender cuts cfoTenderCuts Names Satya Rakesh as New CFO
  • dailmer CFOManish Thakore Helms Daimler India Commercial Vehicles as CFO

Selected Stories

  • Chandrasekar-K-1Leading with empathy is the correct mantra for success

    Read more

  • 20220331_113353Govt orders probe into fire incident involving Ola

    Read more

  • indian rupeeAsian stocks rise as Ukraine peace talks appear to progress

    Read more

  • economyTata Coffee rallies nearly 13 pc; Tata Consumer jumps over 5 pc

    Read more

  • rupeeRupee rises 4 paise to 75.69 against US dollar in early trade

    Read more

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.