NASSCOM IDC Report - Technology Sector in India- Building Capabilities to Win in the New Normal

NASSCOM in partnership with IDC conducted an analysis to evaluate response strategies of technology firms based in India (including GCCs, MNCs and start-ups) during the second wave of COVID-19.

The study – ‘’ Technology Sector in India- Building Capabilities to Win in the New Normal’’ presents a broad analysis of impact of 2nd wave on tech sector in India (employees, productivity and operations). The study also looks into the enhancement in capabilities of organizations arising from the COVID response strategies, and how they are likely to set the stage for future growth of tech organizations in India.

The research further assesses the outlook for 2021 for the tech industry in India, as presented in this insights compendium

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Key Findings

Tech Sector in India has significantly enhanced its value proposition during the pandemic

The organizations have made significant investments in aspects ranging from hardware enablement for remote working to managerial training for managing remote workforce. The industry has evolved across four key aspects - digital workspace capabilities, human capabilities and distributed delivery capabilities with enhanced business resilience

Organizations have responded swiftly to address the second wave challenges with a strong focus on employee health and safety

Organizations across the board are taking steps to successfully navigate the 2nd wave of COVID-19. The organizations are focusing on realigning work processes, strengthening security posture, focusing on talent sourcing and skilling, and adopting a "People First" approach by revamping HR processes

Strong Resilience Exhibited by the Industry

The tech industry in India has largely been successful in containing the impact on 2nd wave of COVID19. For the 4 week period under consideration, while most organizations report 2-3% workforce impacted, they also report nil to minimal productivity and business impact. The industry was successful in scaling the remote working swiftly during the 2nd wave outbreak in India

2021 Outlook remains positive, with robust business demand

The IT spending is likely to grow by 10.9% in 2021. The hiring sentiment also remains bullish despite second wave with nearly 89% of technology organizations planning to increase their workforce this year. Driven by digital tech spending, Indian technology services industry is likely to experience accelerated growth in the next few years to reach USD 300- 350 billion by 2025

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