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How is the IT market in India now?

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How is the IT market in India now?

The domestic revenue of the IT industry is estimated at US$ 45 billion and export revenue is estimated at US$ 150 billion in FY21. According to Gartner estimates, IT spending in India is estimated to reach US$ 93 billion in 2021 (7.3\% YoY growth) and further increase to US$ 98.5 billion in 2022.

How is the current IT job market?

The changes were long in the making and COVID-19 only exacerbated them. After shedding more than 22 million jobs in one month last year as the coronavirus brought on a national shutdown of the economy, much progress has been made in the labor market. More than 18 million jobs have been restored since March 2020.

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How is the IT market in India 2021?

INDIA, November 10, 2021 –The Indian IT & Business Services market was valued at USD 6.96 Billion and recorded a 6.4\% year-over-year (YoY) growth In 1H2021 (Jan-Jun) compared to 5.1\% in 1H2020, according to the International Data Corporation’s (IDC) Worldwide Semiannual Services Tracker.

Is the job market competitive right now?

Opportunities for career growth are significant in the tightest job markets. The job market is hot right now, making this a perfect time to build your career. Employers are struggling to find and hire great talent—and as a result they are offering increasing pay, perks and opportunities.

What is the best job in IT sector?

Let’s Check on the Top 10 Best Paying Jobs in Technology for 2022.

  • Product Manager.
  • Artificial Intelligence (AI) Engineer.
  • Full-Stack Developer.
  • Cloud Architect.
  • DevOps Engineer.
  • Blockchain Engineer.
  • Software Architect.
  • Big Data Engineer.

How is future of IT industry?

India’s technology services industry can achieve $300-350 billion in annual revenue by 2025 if it can exploit the fast-emerging business potential in cloud, artificial intelligence (AI), cybersecurity and other emerging technologies, according to a report by industry body Nasscom and global consulting firm McKinsey .

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How long does it take to find a job in 2021?

The typical job search takes two to six months and depends on the level of position to which you have applied. If you are searching for an executive position, expect the search to last longer. Executive appointments tend to set the tone for a company so they take time.

Is the job market hot?

What is the job market scenario in India?

Job market scenario in India seems grim as slowing economic growth has led to many organisations handing over pink slips to their employees. Recently, leading Indian biscuit maker, Parle Products Private Limited, hinted that it might have to lay off up to 10,000 workers owing to slowing economic growth and falling demand in the rural heartland.

Is the job market in India improving?

Indian job market is improving! This is what year 2021 may be like for employment The Indian job market is improving slowly and steadily over the past few months after declining by over 60\% in April’20 and May’20 Y-O-Y, owing to the pandemic.

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Which sectors are driving hiring in India this year?

One of the key sectors driving hiring in India this year has been the Medical/Healthcare sector, which was at the forefront of fighting the pandemic. As the demand to hire the right talent increased owing to the pandemic, the Medical sector was the first to bounce back in hiring in May’20 itself as compared to April’20.

What is the future of India’s labour force by 2020?

India’s labour force is expected to touch 160-170 million by 2020, based on rate of population growth, increased labour force participation, and higher education enrolment, among other factors, according to a study by ASSOCHAM and Thought Arbitrage Research Institute.