 "More than a decade after the National Policy on Information Technology (NPIT 2012) was introduced, the Union government is readying a new policy with changed goals and benchmarks. The policy is expected to be finalised by the end of this year, accor")
India's IT flexi staffing space is likely to grow steadily at a compound annual growth rate (CAGR) of 7 per cent from FY24 to FY26, stated a report by industry body India Staffing Federation (ISF).
The IT flexi staffing industry focuses on supplying temporary or contract IT professionals to client organisations.
ISF has also released the Indian IT Staffing-Sectoral & State Employment Trends Report 2024, which provides an in-depth analysis of trends in employment across various sectors and states.
According to the report, India is the second-largest player in the South Asia-Pacific (APAC) region within the rapidly expanding APAC IT staffing market.
Lohit Bhatia, President of ISF, said in the statement, "India's IT flexi-staffing sector is anticipated to experience steady growth, with a projected compound annual growth rate (CAGR) of 7 per cent from FY 2024 to FY 2026." The Indian IT Flexi Staffing Market size is $4.9 billion in FY24, with a total workforce of 5,97,000.
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According to ISF Vice President Manmeet Singh, employment contributions from IT and IT-enabled Services (ITeS) sectors, along with Global Capability Centres (GCCs), account for 51 per cent of overall value and employ a significant flexi workforce of 2,96,000 professionals.
Suchita Dutta, Executive Director of ISF, said, "States with a strong IT infrastructure and inclusive policies see higher female participation in the workforce. Conversely, male dominance persists in states with traditionally male-dominated sectors such as manufacturing and engineering. The IT female labour workforce participation rate is averaging at 37 per cent." The report also pointed out regional and industry-specific trends with a focus on regional gender balance in flexi staffing.
Delhi-NCR led in promoting gender balance, with a workforce distribution of 55 per cent male and 45 per cent female in flexi-staffing roles.
Karnataka followed closely, with a female labour force participation rate of 37 per cent, in line with India's national average, it stated.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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