Engineering, telecom, healthcare sector to add 12 million jobs by FY26: Report

The engineering, telecom, and healthcare industries are expected to add about 12 million new jobs by Fiscal Year 2026, owing to the focus on recovery as well as technological proliferation and digitalisation in these areas.

According to a report by TeamLease Digital, TeamLease Services' staffing business, specialised personnel or professional staff with high-skill and knowledge will account for roughly 17% of all new employment.

The 'Professional Staffing Digital Employment Trends Report' is a qualitative study that surveyed and interviewed over 750 employers and leaders from the engineering, telecom, and healthcare industries.

"The engineering, telecommunications, and healthcare industries are on the cusp of undergoing an Industry 4.0 transformation. Sunil C, Head-Specialised Staffing, TeamLease Digital, said, "There is a change from a central industrial control system to one where smart products and processes are at the centre of their operations."

Sunil went on to say that the production-linked incentive (PLI) plan, as well as foreign direct investment, are driving an exponential increase in demand, particularly for personnel with specific talents in these industries.

"While the three sectors together will offer a 2527 percent increase in job opportunities, demand for qualified talent or specialised employees will expand from 45,65,000 to more than 90,00,000 (forecast) by 2026," Sunil said.

The report further claims that conservative estimates put the market size of telecom, engineering, and healthcare at roughly USD 1.5 trillion.

They currently employ over 42 million people, or 8.7% of India's total employment, and are expected to produce an additional 12 million jobs by 2026.

"Not only is there a demand for skill, but the path to recovery and growth has also resulted in a transformation in the employment model." The percentage of contract workers has increased from 10% to 16% of total employment. By 2026, it is predicted to account for roughly 24% of total employment.

Gig workers work as short-term, temporary, or independent contractors for one or more employers, rather than a standard in-office full-time position with a single organisation.

The engineering, telecom, and healthcare industries are expected to add about 12 million new jobs by FY26, owing to the focus on recovery as well as technological proliferation and digitalisation in these areas.

According to a report by TeamLease Digital, TeamLease Services' staffing business, specialised personnel or professional staff with high-skill and knowledge will account for roughly 17% of all new employment.

The 'Professional Staffing Digital Employment Trends Report' is a qualitative study that surveyed and interviewed over 750 employers and leaders from the engineering, telecom, and healthcare industries.

"The engineering, telecommunications, and healthcare industries are on the cusp of undergoing an Industry 4.0 transformation. Sunil C, Head-Specialised Staffing, TeamLease Digital, said, "There is a change from a central industrial control system to one where smart products and processes are at the centre of their operations."

Sunil went on to say that the production-linked incentive (PLI) plan, as well as foreign direct investment, are driving an exponential increase in demand, particularly for personnel with specific talents in these industries.

"While the three sectors together will offer a 2527 percent increase in job opportunities, demand for qualified talent or specialised employees will expand from 45,65,000 to more than 90,00,000 (forecast) by 2026," Sunil said.

The report further claims that conservative estimates put the market size of telecom, engineering, and healthcare at roughly USD 1.5 trillion.

They currently employ over 42 million people, or 8.7% of India's total employment, and are expected to produce an additional 12 million jobs by 2026.

"Not only is there a demand for skill, but the path to recovery and growth has also resulted in a transformation in the employment model." The percentage of contract workers has increased from 10% to 16% of total employment. By 2026, it is predicted to account for roughly 24% of total employment.

Gig workers work as short-term, temporary, or independent contractors for one or more employers, rather than a standard in-office full-time position with a single organisation.