Workers with digital skills contribute US$ 507.9 billion (Rs. 10.9 trillion) to India's GDP: Study
- IBEF
- February 23, 2023
According to an AWS-commissioned study, the workforce in India equipped with digital skills earns 92% higher salaries and is estimated to contribute US$ 507.9 billion (Rs 10.9 lakh crore) annually to India’s Gross Domestic Product (GDP).
The study was carried out in two phases and involved 2,005 working adults and 769 employers in India from a range of public and private sector businesses and industries. The study identified basic, intermediate, and advanced digital skills. According to the report, 91% of workers who use advanced digital skills are more satisfied and stick to their jobs than 74% of people who use basic digital abilities.
According to the study, 80% of Indian businesses that hire individuals with advanced digital skills have stronger yearly revenue growth, yet 88% of businesses have trouble filling open positions. According to the study, 21% of Indian businesses that conduct most of their operations in the cloud report an increase in annual revenue of at least double that of those businesses that use the cloud just sometimes or not at all. Also, companies using the cloud are 15% more likely to have launched a new or upgraded product within the last two years.
Additionally, the study reported that 93% of the Indian businesses responded said they were looking to fill positions that required digital skills, but 88% of them found it difficult to find the talent they needed. The current job requirement for a bachelor's degree by 60% of Indian firms, even for entry-level IT personnel, may act as a barrier. Moreover, many Indian businesses are beginning to understand how recognising industry qualifications may make hiring easier.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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