Amid COVID-19, many people around the world, across industries, lost their jobs, but things seem to be looking up now.
According to NASSCOM, the Indian IT industry is expected to close FY21 with over 1,38,000 net new hires, taking the total employee base to 4.47 million.
Interestingly, the Indian IT sector continued to gain traction — even as global output shrank by 3.2 percent due to the pandemic — growing at 2.3 percent year-on-year on the back of rapid acceleration in digital transformation and tech adoption.
NASSCOM added that the industry will close FY21 with a revenue of $194 billion.
Earlier this year, the regulatory body also stated that 1,600 new companies were added to the Indian tech startup ecosystem in a report, adding that it is seeing growth at a scale of 8-10 percent year-on-year.
Here’s hoping for a new normal — a better normal.
Also read: In a previous interview with YourStory, Debjani Ghosh, President of NASSCOM, talks about startups struggling amidst COVID-19, steps the government could take to alleviate them, and key learnings to derive from this pandemic.
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News & Updates
- Despite the COVID-19 pandemic, India’s IT sector is expected to close FY21 with a revenue of $194 billion, according to NASSCOM. The industry is expected to add over 138,000 net new hires in FY 2020-21, taking the total employee base to 4.47 million.
- The SC asked the Centre and WhatsApp to reply to a fresh plea, alleging lower standards of privacy for Indians compared to European users. It said that citizens have great apprehension about the loss of their privacy, and think their data and chats are being shared with others.
- With over 150 percent growth in DAUs, Snapchat has seen its user base cross the 60 million-mark in India. Snap Inc MD (International Markets) said it aimed to continue building on the growth momentum across product development, partnerships, and the AR experience.
- Onelife Nutriscience, which owns and operates the consumer healthcare brand Onelife, has secured undisclosed funding from Wipro Consumer Care Ventures. The Mumbai-based company will use the funds for its next level of growth.
- Indian Angel Network is planning to invest over Rs 100 crore in startups across sectors in 2021, according to a governance committee member and co-founder of the network. IAN will evaluate opportunities in biotechnology, AR, manufacturing, and environment for new investments.
Before you go, stay inspired with…
"As a startup founder, you need to know only a few things — talk to your users at every stage. You have to talk to your users to build something they want, and do it as frugally as possible. Don’t get caught up in valuations as a milestone."