No talent: IT firms may lose $10bn
has shown that so far only a 10th of the global addressable
market for these services has been tapped. With its early lead and strong
fundamentals, India is best positioned to take advantage of this
opportunity. “Yet the unsuitability of a large proportion of the talent
pool in the country lead to significant lost opportunities,” it said,
citing the Nasscom-McKinsey Report 2005, which projected that these would
fall short by about 5,00,000 suitable professionals (representing an
opportunity cost of $10 billion) by the end of the decade.
“If the current trends are maintained, the IT-ITES sector (IT-ITES alone of the knowledge sector) would need and additional one million-plus qualified people in the next five years and would generate exports in 2012,” the report said.
a major thrust at all levels of education sector was needed to capitalize
on the huge opportunity in the information technology and related sectors
of the knowledge economy, according to the report. “Clearly, expansion
and radical reform of the education sector are called for to ensure that
we are able to meet the quality and quantity of professionals needed by
the country,” the report said.
Observing that the regional divide in the matte of divide in the matter of educational and research and development institutions was also a matter of concern, the report said, pointing out that over 60 per cent of these were located in just about eight States.