India’s offshore IT industry is facing a shortfall of 500,000 professionals by 2010, a report by business consultancy McKinsey and Nasscom has warned.
The IT sector has expanded by around 30% in India over the past two years, and is predicted to increase by more than 125% over the next five years as the trend for offshoring grows.
Major labour shortages are predicted within the IT industry. It currently employs one million people, but will need another 1.3 million IT workers to support the predicted growth.
Only last week, Microsoft said it would create 3,000 jobs in India over the next three to four years.
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A lack of office space in the main IT hubs, such as Bangalore and New Delhi, are also expected to be a problem.
