Is the automation and rising protectionism a reason for job losses in the country?
Is the growing technology a boon or a bane?
Digitization has further lowered its 2017 IT spending growth estimate to 2.4 per cent from the 2.7 per cent earlier. There is anxiety over the jobs in IT sector as much more could be taken over by machines.
Indian IT Sector Depends Majorly on Exports
Technically an advancement but less jobs. automation, though it might take some people’s jobs in the short term but it is essential for keeping companies competitive, and thus able to expand and hire more workers. The $155-billion Indian IT sector depends majorly on exports and industry lobby Nasscom had last month pegged a lower growth forecast of 7-8 per cent in exports in FY18.
Robotics is going to be one of the trans-formative technologies of the 21st century. The entire robotics industry is only a 5 billion dollar market today, but according to some estimates it will grow to 100 billion by 2020.
The enterprise software category is forecast to grow the strongest at 7.6 per cent in 2017 to $351 billion.