The Hyderabad Software Enterprises Association (HYSEA), a well-known body of software industry, estimates the number of people employed by IT and ITeS firms in Hyderabad to grow nearly twofold and touch 10 lakh within the next five years.
“It is reasonably guaranteed that the workforce will touch 10 lakh in the next 4-5 years,” HYSEA president Murali Bollu said here on Monday. The companies were expected to do a repeat of 2018-19 by adding 65,000 jobs this financial year. Overall, the IT industry in the city employs an estimated 5.5 lakh people.
Besides jobs, the IT office space that now is around 50 million sq. ft. is also poised to be doubled. Given the amount of construction happening at Hi-Tec City and Gachibowli areas, the space to be added would be an additional 50 million sq. ft. in 4 to 5 years, he said.
“All of this indicate that the amount of employment creation is going to grow,” said Mr. Bollu, who accompanied by a few other HYSEA leaders and STPI Director Ram Prasad, briefed the media about the upcoming Annual Innovation Summit and Awards-2019 of the Association. Consolidating its position as a preferred destination for IT companies, Hyderabad registered ₹1.08 lakh crore IT exports last fiscal, which was an increase of 17% over 2017-18 and almost double the growth rate of IT industry in the country. Exuding confidence of the growth rate being maintained this year too, Mr. Bollu cited as factors availability of talent and infrastructure as well as the government support behind leading companies setting up a base in Hyderabad and over time expanding their operations.
The new jobs, he said, would be created in the areas of artificial intelligence, machine learning, AR/VR, data science and blockchain.
Summit on Aug. 1
Giving details of the summit and awards, the HYSEA leaders said the 27th edition of the annual event is scheduled to be held at HICC Novotel on August 1 on ‘Nextgen Businesses: Powered by Future Technologies’.
Union Finance Minister Nirmala Sitharaman has been invited to the inauguration and a confirmation from her office has been awaited, the organisers said.
A comprehensive report on the IT industry would be launched at the summit. This report would cover certain aspects like business ecosystem, talent, ease of living, ease of doing business and infrastructure in the city, a release said.
More than 120 product companies would be competing in various categories for the annual industry awards in various categories, including exports and CSR. More than 120 start-ups and 1,000 delegates, including over 200 IT industry leaders, are expected to attend the event.
