Enterprises are backing startups
Large enterprises now see the potential and are investing in or partnering with them rather than competing.
Why global companies build their tech teams in India
The market data is encouraging. It is also the reason hiring here is harder than it looks — everyone is fishing in the same water.
The smallest talent gap of any major economy
According to NASSCOM, India's tech talent demand-supply gap stands at 21.1% — the lowest compared with other major economies. A growing pool of graduates and a maturing talent ecosystem keep the digital talent pool expanding, even with heavy churn for the strongest people.
In NASSCOM's words, India has emerged as an unparalleled human capital destination: the digital talent nation, with Indian IT leading the way.
21.1%
demand-supply gap for tech talent, the lowest among major economies
45%
of the world's global in-house centres are located in India
Global in-house centres are hiring specialists, not generalists
GICs in India are building capability in emerging digital technologies, which changes the kind of person they need to hire.
India hosts more than 45% of the world's GICs, and NASSCOM describes these centres as a microcosm of the global enterprise. There are roughly 1,200 GICs today, employing more than a million people and generating $28 billion in revenue.
Over the next three years, more than 200 new GICs are likely to be set up in the country.
New GICs and expansions by existing ones are expected to create an additional 300,000 to 350,000 jobs.
The key growth segments are banking, financial services and insurance, retail and consumer packaged goods, manufacturing, healthcare, and technology product companies.
And a startup ecosystem competing for the same people
India is the third largest startup ecosystem in the world, home to over 57,000 startups according to Inc42. Four things got it there.
Cheap internet, mobile-first users
Falling data costs and higher mobile adoption opened a route to millions of customers who were previously unreachable.
Policy support
Government recognises the value of disruptive innovators across the value chain, and more than 26 states now have startup policies.
Founders begetting founders
First-generation entrepreneurs proved it was possible, and inspired the next wave to start their own businesses.
What this means if you are hiring
A deep talent pool and heavy demand at the same time means the people you want are almost never actively looking. Posting a vacancy reaches the wrong quarter of the market.
That is the work: mapping who exists, approaching them properly, and being able to describe your company in a way that makes a settled person curious. We would rather do that than forward you a hundred applications.