By: Milind Shah, Managing Director, Randstad Digital
The digital revolution is sweeping across the globe and businesses are racing to adapt. Seamless integration of digital tools has become a necessity to drive innovation, economic growth, and productivity. This transformation rests upon two key pillars – a skilled workforce and a robust digital infrastructure. It is here that India has emerged as a key player, well-positioned to take a leadership role in equipping the world for the digital age.
The rise of a digital powerhouse
India’s IT sector serves as a powerful growth catalyst, contributing a significant 7.5 percent to the economy in FY23 and projected to reach 10 percent by FY25. The country’s commitment to digitalisation is evident in the projected IT spending of an impressive $138.6 billion in 2024 – a remarkable growth of 11.1 percent. This incredible progress is being fuelled by continuous upskilling that equips the workforce with the latest capabilities and a focus on digital transformation initiatives catering to domestic and international needs.
The power of AI and a future-ready workforce
Technology-based roles remain highly sought after across the globe due to the growing relevance of Artificial Intelligence (AI) and continuous tech advancements. AI is transforming and augmenting jobs by automating mundane and repetitive tasks such as code generation and testing enabling developers to focus on critical and analytical work that requires human intervention and expertise. Businesses are recognising this potential and are prioritising AI training to increase adoption rates, consequently ensuring their workforce is prepared for the future.
Global Capability Centres foster collaboration and innovation
Global Capability Centres (GCCs) empower businesses to achieve their long-term digital transformation goals at an accelerated pace. Expanding GCCs enables organisations to attract international clients, access a vast talent pool of skilled workers, and offer cost-effective digital solutions to businesses across the globe.
India stands tall as a leader in this space, housing over 50 percent of the world’s GCCs. Initially concentrated in major cities, the focus is now shifting towards tier 2 cities. The tier 2 cities offer lower operational costs, conducive government policies, and growing infrastructure, making them ideal for GCC expansion. This positions India to become a global hub for digital expertise, with the GCC segment expected to surpass $100 billion by 2030 and boasting a network of close to 2,400 centers spread across the country.
Furthermore, the Indian GCC sector has witnessed a significant rise in the demand for gig workers. This enables organisations to build flexible and scalable talent pools that efficiently address specific project needs. GCCs also play a vital role in talent retention by providing career progression opportunities and nurturing new IT professionals. Motivating young talent in this dynamic environment to develop specialised skills is key to sustained success in the long term.
Grassroots upskilling to build a digital future
The Government of India recognises the importance of a skilled workforce and has invested heavily in upskilling initiatives like the Skill India Mission. The combined efforts of these upskilling initiatives, strategically planned GCC investments, burgeoning infrastructure, and a rapidly growing internet user base have successfully transformed India into the second-largest online market in the world. This synergy of digital fluency, talent, and infrastructure not only positions India as a future global leader and a tech superpower, but also empowers it to shape the forefront of technology, driving progress in the digital age worldwide.