It was a great 2021 for the IT sector, with revenue crossing $ 200 billion, but the job loss rate is also at an all-time high

In its report, NASSCOM said that in the financial year 2021-22, so far 4.5 lakh people have been given direct employment in this sector. The revenue of this sector has reached 227 billion dollars.

Hope the situation gets better going forward.

IT industry bodies NASSCOM ,NASSCOM) said on Tuesday that the country’s information technology sector ,IT Sector) In job loss rate ,Attrition rate) has reached its peak. National Association of Software and Services Companies (NASSCOM) vice-president Krishnan Ramanujam said that if we look at the figures of top-10 IT companies in the December quarter, it seems that there is no reduction in the number of job losses, even if It’s stable. “Hopefully, in the IT sector, we have reached the peak of this problem and the situation will improve further,” Ramanujam, head of business and technology services at IT company TCS, told reporters at NASSCOM’s Strategic Review press conference. In recent quarters, due to increased demand for digitization from companies around the world, many companies have reported more than 20 percent of employees to leave.

IT companies have hired more new staff than planned. Retention bonus issued to stop the employee. Great increment given. Apart from this, special training was given to the staff and promotion was also given to the necessary employees. Apart from this, different strategies are being adopted by the HR department.

employs over 50 million people

The demand for IT services has increased across the world. Due to this, there has been a jump of about 15.5 percent in this sector. This is the highest in the last decade. It reached $227 billion. At present more than 50 lakh people work in this sector.

Provided employment to 4.5 lakh people this financial year

In its report, NASSCOM said that in the financial year 2021-22, so far 4.5 lakh people have been given direct employment in this sector. This is the record so far. The next financial year is expected to be great for the IT sector. Next year also digital demand will remain, due to which this sector will grow rapidly. The size of this industry will be $350 billion by 2026.

10 percent uptick in director employment

Nasscom said that the total revenue of IT services companies stood at $ 116 billion in the current financial year. It has registered a growth of 16.9 percent on a yearly basis. Business Process Management’s revenue stood at $ 44 billion and registered a growth of 13.5 percent. Software revenue stood at $17 billion and registered a growth of 7.3 percent. E-commerce revenue stood at $ 79 billion and registered a growth of 39 percent. There was a 10 percent increase in director employment.

Global tech expenditure of $4.2 trillion in 2021

Global tech expenditure stood at $4.2 trillion in 2021. It had registered a growth of 9 per cent on a yearly basis. In 2020, it had registered an increase of only 0.9 percent. There has been a two-fold jump in digital technology spending. Software and service expenditure has been $ 1.7 trillion and has registered a growth of 8.7 percent.

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