AI, Blockchain, and Cloud Computing Set to Fuel 1 Million Jobs in India by 2030

India is set to experience significant job growth in emerging technologies, with an estimated 1 million new jobs expected by 2030, according to the Technology Skills Report, December 2024, released by Quess IT Staffing.

The report highlights the growing demand for expertise in fields such as artificial intelligence (AI), cybersecurity, cloud computing, data science, and blockchain, all of which are expected to revolutionize industries and create a wide range of employment opportunities.

The report states how the rise of AI, machine learning (ML), cybersecurity, and cloud computing will play a central role in transforming the workforce. As businesses across various sectors integrate these technologies for innovative applications, the need for skilled professionals will grow. Kapil Joshi, CEO of Quess IT Staffing, emphasized the ongoing transformation of India’s technology workforce, noting that the fusion of traditional skills like enterprise resource planning (ERP) with cutting-edge technologies such as AI, ML, and quantum computing is generating unprecedented opportunities.

Strategic investments in upskilling the workforce are anticipated to be critical, as the demand for talent in emerging fields continues to surge. By 2030, these technologies are projected to contribute over $150 billion to India’s economy, further solidifying the nation’s standing as a global technology leader.

The Indian IT industry workforce is expected to grow from 5.4 million to 7.5 million by 2030, adding over 2 million jobs. This growth will primarily be driven by the increasing demand for professionals in emerging technologies and high-growth industries. The expansion will not only create new jobs but also result in a significant shift toward these high-demand fields, offering numerous opportunities for individuals to enter the tech sector.

Industries such as banking, financial services, and insurance (BFSI) are increasingly relying on technologies like cybersecurity and blockchain to ensure secure transactions, detect fraud, and manage identities. AI and ML are also making strides in personalized customer interactions and enhancing analytics for better risk management. In healthcare, these technologies are used in applications like predictive analytics, telehealth, and personalized medicine, while data science contributes to drug discovery and patient data analysis. The retail and e-commerce sectors are also leveraging these advancements to offer personalized recommendations, optimize inventory management, and implement dynamic pricing strategies.

Blockchain technology, in particular, has seen a surge in demand. Global hiring for blockchain-related roles increased by over 76% year-on-year in 2023, and in India, demand for blockchain professionals rose by 60% between 2021 and 2023. This growth was especially notable in sectors such as BFSI, supply chain, healthcare, and IT services. Similarly, cloud computing roles have seen a global increase of 30-35% year-on-year in 2023, with industries such as IT services, media, telecommunications, and automotive adopting cloud solutions at a rapid pace.

In terms of geographical hiring trends, Bengaluru remains the dominant player in tech hiring, accounting for nearly 43.5% of the overall tech demand in India. Hyderabad and Pune follow, with 13.4% and 10%, respectively. These cities continue to lead in attracting top tech talent, making them central hubs for technological innovation and employment.