The IT and banking, financial services and insurance (BFSI) industries are expected to create approximately 5 million jobs with apprentice skilling by 2025, reports the Business Standard, citing research by staffing firm Quess Corp. Hiring in the IT/ITES industry has been growing month-on-month as it prioritises apprenticeship engagement that lowers workforce cost, creates a talented pool, and encourages staff loyalty and retention. About 79% of employers in IT/ITES industries expect increasing apprentice intake in the coming months, Quess Corp said. 

“The IT space in India has seen a drop in headcount and fresher intake due to global tensions,” Girija S, vice president at Quess Corp, said in a statement. “However, apprentice hiring has picked up substantially in the past year across the IT segment, with newer roles emerging that did not perhaps exist a year ago.”   

She added that apprentice hiring in BFSI is also “flourishing” with the expansion of non-banking financial corporations. However, Girija S said, “The scope for apprentice skilling and job creation in IT/BFSI sectors is unprecedented, and we expect the creation of approximately 5 million jobs by 2025.”