Digital skilled workers’ stake in India’s GDP is pegged at $508 billion
This is attributed to 92 per cent higher salaries that these workers earn compared to those with a similar education who do not use digital skills at work.
NEW DELHI: Workers in India, who use advanced digital skills like cloud architecture or software development, are contributing an estimated $507.9 billion (Rs 10.9 trillion) to the country’s annual gross domestic product (GDP), a report showed on Wednesday.
This is attributed to 92 per cent higher salaries that these workers earn compared to those with a similar education who do not use digital skills at work. About 80 per cent organisations in India that employ workers with advanced digital skills report higher annual revenue growth, but 88 per cent of organisations are facing hiring issues, according to the report by Amazon Web Services (AWS) conducted by Gallup.
The findings showed advanced digital workers in India are benefitting from more than just a boost in their income. About 91 per cent of workers who use advanced digital skills express higher job satisfaction, compared to 74 per cent of workers with intermediate skills and 70 per cent of workers with basic digital skills. “India has the opportunity to seize immense economic benefits from building a strong pipeline of cloud talent to support the country’s ongoing digital transformation,” said Amit Mehta, head of training and certification, AWS India Pvt Ltd.
It found 21 per cent of Indian firms that run most of their business on the Cloud report a doubling of annual revenue or more, compared to 9 per cent of those that use the cloud for some or none of their business.
Cloud-based firms are also 15 percentage points more likely to have introduced a new or improved product within the last two years. With many organisations now preparing for the challenges of a digital future, the Gallup study looked at 10 emerging technologies including AI, edge and quantum computing, blockchain.
Around 92 per cent of employers in India said at least one of these technologies may become a standard part of their future business operations, with 5G ranking the highest at 78 per cent. “This research shows that digital skills provide immense economic value to India at the individual, organisational, and macroeconomic level,” said Jonathan Rothwell, Gallup principal economist.
But, tech talent paucity is a global phenomenon. “While it is good that India has the lowest tech talent demand-supply gap among the top tech locations, it is imperative for individuals and organisations to continue to invest in digital skills training,” said Kirti Seth, CEO, sector skills council, Nasscom.