Hyderabad: IT exports from Hyderabad touched a new high of Rs 1.09 lakh crore for 2018-19, growing at 17 per cent, which is nearly double the nation’s nine per cent growth rate.
The sector employs about 5.5 lakh personnel now, against 4.85 lakh the previous year. The indirect employment created will be four to five times. The city will continue to exhibit similar growth trends due to the mature ecosystem and enabling infrastructure present here, said industry leaders.
Addressing a press conference here on Monday, Hyderabad Software Enterprises Association (HySEA) president Murali Bollu and Software Technology Parks of India Hyderabad Director Ram Prasad said the IT workforce in Hyderabad is likely to touch 10 lakh in about four years.
“In the first half of 2019, about 38.5 lakh sq ft commercial space has been absorbed. A bulk of the space has been taken by the IT, ITeS and startups. Various estimates suggest that about 50 million sq ft commercial space will be available in about five years. This is based on commitments from companies. It implies an additional employment potential for five lakh people,” he said elaborating on how the current 5.5 lakh employment could double in five years.
“Hyderabad now has a set industry and will continue to grow at the current pace or even more. Presence of infrastructure, availability of skilled manpower, presence of a large number technical education institutions and a proactive government are the key drivers for the industry,” said Ram Prasad of STPI, explaining the favourable factors.
The industry has added about 65,000 new jobs during 2018-19. However, the sector is seeing double digit attrition. “The attrition in the industry could be about 20 per cent. This is not unique to Hyderabad and similar figures are visible for the rest of the country as well. However, the attrition implies that people are also able to find new jobs,” said Murali.
New key areas
Machine learning, artificial intelligence, data analytics and blockchain will be the key areas that will create new jobs. “IT professionals should focus on continuously learning new skills to be relevant at work,” he said. HySEA, on its part, has been working with its members and institutions to bridge the skill gap. He said the skill gap is widening and it is time to revamp the curriculum to reduce the training period for freshers. Earlier, it used to take about a year
to train newbies but now it is around six months and there is scope to bring this down further.
The average salaries for freshers are pegged at Rs 3.5 lakh. It goes up to Rs 6 lakh-Rs 6.5 lakh for those equipped with additional skills.