New Delhi: The Indian information technology (IT) industry is facing a dearth of skilled personnel. The sunrise industry will face a shortfall of about 5,00,000 professionals by the year 2010.
This shortfall will threaten the dominance of India in the global offshore IT services according to a report by business consultancy McKinsey and NASSCOM, country's leading IT association.
The prediction comes as multi-nationals such as Microsoft and JP Morgan increase their presence in the world's largest offshore services industry.
This has added to labour market pressures caused by a widening mismatch between the supply and demand for technology talent, the report said.
Despite the recent expansion, only a 10th of an estimated "addressable" market of $300 billion for global offshoring is currently being tapped, the report said.
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