India Emerges as APAC's Second-Largest IT Staffing Hub

CIOTechOutlook Team | Friday, 15 November 2024, 10:23 IST

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India ranks as the second biggest participant in the South Asia-Pacific (APAC) area of the fast-growing APAC IT staffing industry, as per the report by industry body India Staffing Federation (ISF). The IT flexi staffing sector specializes in providing temporary or contract IT experts to client companies. ISF has recently published the Indian IT Staffing-Sectoral & State Employment Trends Report 2024, offering a detailed examination of employment trends in different sectors and states.

Lohit Bhatia, President of ISF, said in the statement, "India's IT flexi-staffing sector is anticipated to experience steady growth, with a projected compound annual growth rate (CAGR) of 7 per cent from FY 2024 to FY 2026."

The Indian IT Flexi Staffing Market is valued at $4.9 billion in FY24, with a workforce of 5,97,000. ISF Vice President Manmeet Singh stated that the IT and ITeS sectors, along with GCCs, contribute 51% of overall value and employ a substantial flexi workforce of 2,96,000 professionals.

Suchita Dutta, Executive Director of ISF, said, "States with a strong IT infrastructure and inclusive policies see higher female participation in the workforce. Conversely, male dominance persists in states with traditionally male-dominated sectors such as manufacturing and engineering. The IT female labour workforce participation rate is averaging at 37 per cent."

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