India will need 30 million digitally skilled professionals by 2026, and about half of the current workforce would require to re-skill themselves in areas of emerging technologies, according to a report by employment services provider TeamLease.
At present, India has about 500 million people of working age, and industry data suggests that only 49% of total youth (age group of 22-25 years) in the country is employable. The TeamLease Services’ survey indicates that 75% of companies face a skill gap in the industry. Even among people who can stay in their current jobs, 40% of fundamental abilities are likely to change and, thus, re-aligning the skill strategy will be crucial for companies, it adds.
Over 2 million jobs in Artificial Intelligence, Cyber Security, and Blockchain are expected to remain unfilled in 2023. In addition, the workplace is evolving so rapidly that 76% of the global workforce is not equipped with the requisite skills to function in the new digitally focused workplaces, the report said.
The report suggests that by developing a skills matrix, carrying out skill audits directed at specific learning journeys and intermingling upskilling within the company culture, a comprehensive skill development strategy can be created to lead to a more sustainable work future.