Software major Infosys Technologies announced on Tuesday in Mumbai an additional investment of Rs 500 crores in their corporate education training centres this year.
A majority of this investment (Rs 200 crores) will be at their global education centre in Mysore, (one of the largest corporate education centres of its kind in the world) and will involve the set up of a new 7,750 room, 9.5 lakh square feet training centre to accommodate and train an additional workforce of 9,000. Infosys will also develop a campus in Shanghai and will be expanding in Mauritius and in the Latin American market.Infosys will hire 25,000 employees this year and is making substantial investments in their training infrastructure. They expect the IT and ITeS sector to face a major manpower crisis in addition to the lack of qualified and talented people in the country.
"We have already invested Rs 500 crores in training infrastructure and will invest close to Rs 500 crores in the next 12-15 months. HR in IT is at a critical junction and going forward in the next two-three years there will be a major shortage of qualified people in the industry," said Mr T.V. Mohandas Pai, director, HR, E&R, administration, Infosys, in Mumbai on Tuesday.Infosys estimates that of the 370,000 graduates coming out of colleges each year, only 200,000 find employment and of this, the IT sector hires 140,000 graduates. This number is expected to increase to one million in the next three years.
"The IT and ITeS sector will spend close to $2.6 billion in the next three years in training people for this industry. During the same time frame, the IT and BPO sectors will require 400,00 and 600,000 people respectively," added Mr Mohandas Pai.
Infosys said that they spend $100 million in training people at their company.
The growing exodus of engineering professors and teachers from top educational institutions for better pay in the private sector and the fact that 75 per cent of the 10 million student pursuing higher education are majoring in arts, have contributed to the manpower crisis, suggested Infosys.
A majority of this investment (Rs 200 crores) will be at their global education centre in Mysore, (one of the largest corporate education centres of its kind in the world) and will involve the set up of a new 7,750 room, 9.5 lakh square feet training centre to accommodate and train an additional workforce of 9,000. Infosys will also develop a campus in Shanghai and will be expanding in Mauritius and in the Latin American market.Infosys will hire 25,000 employees this year and is making substantial investments in their training infrastructure. They expect the IT and ITeS sector to face a major manpower crisis in addition to the lack of qualified and talented people in the country.
"We have already invested Rs 500 crores in training infrastructure and will invest close to Rs 500 crores in the next 12-15 months. HR in IT is at a critical junction and going forward in the next two-three years there will be a major shortage of qualified people in the industry," said Mr T.V. Mohandas Pai, director, HR, E&R, administration, Infosys, in Mumbai on Tuesday.Infosys estimates that of the 370,000 graduates coming out of colleges each year, only 200,000 find employment and of this, the IT sector hires 140,000 graduates. This number is expected to increase to one million in the next three years.
"The IT and ITeS sector will spend close to $2.6 billion in the next three years in training people for this industry. During the same time frame, the IT and BPO sectors will require 400,00 and 600,000 people respectively," added Mr Mohandas Pai.
Infosys said that they spend $100 million in training people at their company.
The growing exodus of engineering professors and teachers from top educational institutions for better pay in the private sector and the fact that 75 per cent of the 10 million student pursuing higher education are majoring in arts, have contributed to the manpower crisis, suggested Infosys.