One of the key challenges students face today is the outdated and overly theoretical curriculum in many traditional colleges. While students are being taught foundational knowledge, these curriculums often fail to equip them with the practical skills and real-world expertise that today’s employers seek. As technology advances rapidly, the speed at which it evolves is far outpacing the curriculum of traditional universities, leaving graduates unprepared to meet the expectations of the job market.

“The reality is that traditional college curriculums are no longer keeping pace with the demands of today’s rapidly changing job market. Despite gaining academic knowledge, many students find themselves underprepared for real-world challenges because the skills they need to succeed—both technical and interpersonal—are not being adequately taught. Our Nova courses are designed to bridge this gap, equipping students with the technical expertise and soft skills essential to stand out in competitive interviews and secure job placements. By collaborating with over 100 colleges this season, we aim to help 50,000 students gain the confidence and capabilities they need to succeed in their careers by March 2025,” said Sumit Shukla, CEO of Scholars Merit.

The World Economic Forum (WEF) report highlights a need to address and bridge the skills gap in India’s workforce. It shows that out of the 13 million people who join the workforce annually, only one-fourth of management professionals, one-fifth of engineers, and one-tenth of graduates are considered employable. In addition, a recent survey by TeamLease Degree Apprenticeship reveals that only 60% of IIT graduates secured placements in 2024, with the percentage of graduates meeting industry expectations significantly lower. When factoring in the increasing demand for advanced technology and AI skills, the employability figure drops even further, with only 0-15% of graduates fully meeting the industry’s needs.

The Nova courses offer a comprehensive curriculum to enhance students’ employability by building a strong foundation in industry-relevant skills. Improving employability skills hinges on mastering relevant technologies. Skills like NoSQL databases, cloud technologies, advanced CRM and ERP expertise, data platforms, AI & ML tools, and generative LLMs are critical today. Additionally, advanced programming skills such as Python and Java are essential for data engineering, with a focus on libraries like Pandas and NumPy for data manipulation and analysis. Students will also gain hands-on experience with tools like Jupyter notebooks for interactive coding and data visualization.

These programs are designed to help learners crack the most important interviews of their careers by equipping them with both the technical expertise required for specific roles and the soft skills necessary to thrive in professional environments.

The courses also emphasize the development of problem-solving and critical-thinking skills. Employers value candidates who can analyze situations, make informed decisions, and approach challenges creatively, making these abilities a cornerstone of the Nova curriculum.

In the coming months, Scholars Merit plans to expand its network of collaborations, working closely with colleges across India to impact a larger student base. The goal is to empower students to face placement challenges confidently and increase their chances of securing employment opportunities.

To accommodate its growing team, NatWest Group has leased a new office space in Bengaluru’s Bagmane Constellation Business Park. This new office spans 370,000 square feet across eleven floors. The company aims to establish a robust engineering and innovation hub in the city.

“The new site follows our announcement last year that NatWest Group was looking to recruit 3,000 new software engineers in India by 2026. The seating capacity in the new office will be three times that of the current office, with the opportunity to increase this further,” NatWest group said in a statement on Wednesday.

With this expansion, NatWest Group expects to have 6,000 employees in Bengaluru by 2026. Currently, the company employs around 2,000 people in Bengaluru and 17,000 across India, including offices in Gurugram and Chennai. India is the second-largest employment hub for NatWest Group outside of the UK.

The UK banking group said it wants to build deep engineering and data capabilities and hire niche domain specialists at the new Bengaluru facility, which will serve as a hub for pioneering technology solutions and cutting-edge developments to help the bank “work in simpler and smarter ways to better serve our customers,” it added. 

“Our new Bengaluru office is not just an expansion of physical space but a strategic investment in our future. With a modern office design to enhance productivity and create an inspiring environment for our employees it reflects our commitment to the vast potential of India’s talent and technology ecosystem,” said Punit Sood, head of India, NatWest Group.  

Scott Marcar, group chief information officer at the group, said, “Bengaluru is known for its vibrant technology sector and skilled talent pool, so this new office marks a significant chapter in our growth journey across India. Strengthening our global operations further positions us at the forefront of innovation as we continue to prioritize improving the customer and colleague experience.”

Milind Lakkad, TCS’s CHRO, emphasized India’s enduring appeal for talent despite diverse skill requirements and geopolitical challenges elsewhere.

“India is the destination for talent, and that is not going to change in the near future,” Lakkad affirmed. He emphasized The company’s initiatives to bridge academia-industry gaps through extensive reskilling and upskilling programs, uniquely positioned at scale. “I am very confident about a positive way forward for Indian talent,” Lakkad added, optimistic about future achievements. 

Addressing concerns about AI’s impact on employment, Lakkad reassured that TCS employees can adapt to technological changes. TCS has implemented salary increases ranging from 4.5% to 7%, with top performers receiving 10-12%. The Elevate Runway program further incentivizes career growth, especially for junior employees, by offering accelerated learning paths that can double their compensation.

The program, open to employees at all levels, focuses on both financial rewards and career advancement aligned with personal aspirations. Over 400,000 employees have enrolled, showcasing its popularity and impact. Additionally, TCS’s Mid-Level Transformation (MLT) program helps employees acquire market-relevant skills for new roles within the company.

TCS recently updated its variable pay policy to include office attendance as a key factor, reflecting evolving work dynamics. Lakkad noted that about 70% of employees have returned to the office, and the policy change aims to maintain discipline and foster a positive workplace environment. “The idea is not punitive but to incentivize office attendance positively,” Lakkad clarified. 

As India’s IT sector continues to evolve, TCS’s proactive measures highlight its commitment to nurturing talent and adapting to global technological shifts, reinforcing its industry leadership.

Teamlease Services currently has more than 5,000 open positions in mobile manufacturing, with more in the pipeline, said Kartik Narayan, chief executive – staffing. According to CEO Aditya Narayan Mishra, Ciel HR Services has about 2,000 open positions, and demand is expected to increase.

Additionally, as leading mobile brands and their component manufacturing and assembly partners, who already have or are looking to set up some form of manufacturing in India, ramp up hiring, an additional 80,000–100,000 indirect jobs will likely be created for the next 12–24 months.

According to the staffing companies, contract manufacturers for Apple, like Foxconn, Wistron, and Pegatron, and other companies with large manufacturing facilities, like Dixon Technologies and Tata Electronics, may increase their workforce.

“We are expecting 40,000-60,000 direct jobs in phone manufacturing pan India by March 2024,” said Narayan of Teamlease. “India has over 200 mobile manufacturing units. “It is the second largest mobile manufacturer in volume terms … This is leading to a huge demand for manpower.”

The Delhi-National Capital Region, Karnataka, and Tamil Nadu account for most new hires. Industry estimates predict India will produce between 270 and 300 million smartphones this year, driven by the government’s initiative to make India a manufacturing hub and a global movement to manufacture outside China.

Martin Migoya, the CEO of Globant, stated that the company’s objective is to increase its leadership in Latin America across the technology and R&D sectors. Globant is working to enhance its AI-based software development products and growing its workforce to deliver higher-quality data.

Before expanding into other sports, the company plans to incorporate AI into its existing partnerships with sports franchises, such as the Los Angeles Clippers basketball team and Spain’s LaLiga soccer league. Globant aims to offer “fan engagement solutions” via technology, such as ordering food and beverages at stadiums or finding parking spaces before games.

Although shares of the Argentine company Globant have remained largely flat this year, investors looking for Argentine companies that stand to gain from market-friendly policies following the country’s elections in October are becoming more interested in them. However, the country’s economic problems have caused a brain drain, with skilled workers migrating to the US and Europe for higher-paying jobs. Migoya highlighted the need for a stable system with clear game rules to keep top talent in Argentina.

Anand Sahay, the global CEO of Xebia, highlighted the company’s expansion plans by stating that Jaipur has a solid educational ecosystem and will be a crucial talent hub.

“The new facility will enable the company to hire and nurture local talent, while boosting global knowledge sharing from the hub to deliver exceptional results for clients,” he said.  

“The decision to establish offices in cities like Jaipur aligns with our forward-looking talent strategy, which aims to bring work opportunities to talented individuals, rather than requiring them to relocate,” Sahay added.   

He said Jaipur possesses vibrant educational ecosystems and will serve as a crucial talent hub. “We are overwhelmed by the positive response from individuals in these cities who are eager to collaborate with us without having to uproot themselves.”

Wayfair has strategically established new TDCs across North America during the past year as part of its ongoing global talent expansion. The company is currently expanding into India intending to hire professionals in supply chain technology, website, and native apps. Wayfair selected Rohit Kaila to serve as the site leader and head of technology for Wayfair in India to lead the new Bengaluru TDC.

Kaila has over three decades of experience working across brands and is in charge of Wayfair’s expansion into India. He worked for Walmart Tech Global for the past five years.

“Bengaluru has earned a well-deserved reputation as India’s Silicon Valley, and our establishment of the TDC here will enable us to assemble a team of highly talented and experienced engineers. With its abundant digital talent pool and prestigious educational institutions, Bengaluru stands out as our preferred choice. We eagerly anticipate our crucial role in driving world-class innovations by recruiting individuals who possess deep expertise in emerging technologies such as AI-ML (artificial intelligence-machine learning), data, cloud, and more,” said Kaila in a press release.

“World-class talent is key to our growth, and we are excited to be in Bengaluru with its rich network of technical talent,” said Fiona Tan, chief technology officer at Wayfair. ‘”Employees who join our Bengaluru office can expect to work in an entrepreneurial environment with freedom to innovate, with the benefits of being at an established company of over 20 years.”

The report analysed the potential of AI in different industries and identified key job roles, including clinical data analysts in healthcare, edtech product managers in education, and industrial data scientists in manufacturing. The report also estimated salaries for freshers and experienced professionals, with data engineers earning Rs 14 lakh and ML engineers up Rs 10 lakh per annum.

According to a survey by TeamLease Digital, 37% of organisations prefer to provide their employees with the relevant tools to develop an AI-ready workforce. In comparison, 30% believe that AI learning programmes are essential to bringing out the best in their employees. Most employees also agreed that initiatives for “upskilling and reskilling” are required to prepare a workforce for the future.

“The AI revolution is transforming the job market, creating an urgent need for skilled professionals who can design, develop, and implement cutting-edge AI technologies. Fortunately, the Indian government is taking proactive steps to address this challenge by entering into a bilateral strategic partnership through iCET and setting up centers of excellence and training initiatives,” said Sunil Chemmankotil, chief executive officer of TeamLease Digital.

The report was published following a recent partnership between iCET, the US, and India to explore the growth of AI and related job opportunities. iCET was established to strengthen and expand strategic technology partnerships between the two countries and pledges cooperation in many tech fields, including AI, quantum technologies, advanced wireless, etc.

“In today’s rapidly evolving job market, upskilling with AI skills is becoming increasingly important for career growth and employability. With automation and AI transforming industries across the board, having a basic understanding of AI and its applications can give individuals a competitive edge in the job market,” said Siva Prasad Nanduri, the chief business officer at TeamLease Digital.

“It’s never too late to start upskilling, and investing in AI skills can provide long-term benefits for individuals and their careers,” he said.

The report cited the Union Budget for government steps to train young people in AI-related skills. One major state initiative is the creation of Centres of Excellence for AI.

Commenting on the hiring plans, Gaurav Jalan, Founder and CEO mPokket, said, “As a leading digital lending player, our hiring is connected to either bolstering cutting-edge technology or fostering deeper customer relationships. The ongoing hiring is aimed at empowering young professionals from vast domains for a better future.”

“The new pool of talent will support mPokket’s mission of making young India financially independent. Accordingly, it will augment business outcomes by creating positive product and digital experiences, besides improving our go-to-market efforts,” Jalan added.

The hiring strategy aims to recruit diverse young people for various positions in technology, product, data analytics, and digital customer expertise. People with expertise in SDET, Python, Android, Java, NodeJS, and DevOps are the main focus of technology recruitment. mPokket is dedicated to providing a positive workplace culture and employees’ intellectual development.

In addition to Pune, the company has facilities in Bengaluru, Chennai, Gurgaon, and Hyderabad. It also has some employees working in the United States and Mexico.

The CEO of Incedo, Nitin Seth, told TOI that despite concerns about a recession and other global economic challenges, the company expects to outgrow the sector’s typical growth rate this year by 30% to 35%.

The telecom, BFSI, and healthcare sectors account for most of Incedo’s clients in North America.