Transforming Skill Gap Crisis into Opportunity for Upskilling in India’s IT-BPM Sector

Abstract

Fourth Industrial revolution (I4.0) is set to change the way we work in the 21^st Century. Invented by us (humans), it is ironical to not prepare for the technological changes that have been developed for the greater good of the society. India has also begun experiencing the waves of I4.0. Robotics, artificial intelligence, internet of things, automation is being combined with existing production processes in many industries. Its magnitude depends on the cost structure and varying capital deepening in the Indian industries. The IT-BPM Sector is the prime driver for automation, artificial intelligence, IoT and analytics. However it is not only accelerating and playing a key role in implementing the I4.0 in manufacturing, but also undergoing changes within its own industry. The primary objective of this study is to conduct a detailed study on the current status of skill demand and skill supply in India in general and IT-BPM sector in particular. The secondary objective of the study is to review the performance and growth of IT-BPM sector in recent years and the pace of technological progress in the sector. Secondary sources have been referred to identify the skill gap and frame a decent work strategy for the IT-BPM Sector. The paper finds an opportunistic scope in upskilling the workers to the new technology as it workers with upgraded technology can positively contribute to the growth of the industry as well as economy. It is argued that the skill gap crisis needs to be perceived as an opportunity for digital transformation of the economy and engine of growth for IT-BPM Sector. However the key challenges lie in the adaptability of workers and reforms in education sector.