Business

11 months ago

India's IT sector adds 1.5 million jobs in FY23, highest ever annual addition

India's IT sector(Feature Image)
India's IT sector(Feature Image)

 

New Delhi, June 23, 2023 : India's IT sector added 1.5 million jobs in the financial year 2022-23, the highest ever annual addition. The sector's growth was driven by strong demand from the US and Europe. The unemployment rate in the IT sector fell to 2.5% in FY23, the lowest level in history. The sector is expected to continue to grow in the coming years, creating more jobs for Indian workers.

The growth of India's IT sector is being driven by several factors, including:

  • The increasing adoption of cloud computing and artificial intelligence by businesses around the world.
  • The growing demand for IT services from the healthcare, financial services, and retail sectors.
  • The increasing number of start-ups in India that are using technology to create new products and services.

The growth of India's IT sector is also being supported by the government's policies, such as the National Digital Literacy Mission and the Startup India initiative. These policies are helping to create a skilled workforce and a favorable environment for businesses to grow.

The growth of India's IT sector is providing a major boost to the Indian economy. The sector is one of the largest employers in India, and it is also a major contributor to the country's exports. The sector is expected to continue to grow in the coming years, creating more jobs and opportunities for Indian workers.

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