Data science jobs continue to be in demand in India

One may wonder what's the big deal? Or, what is the hullabaloo all about? Well, the incident or the development may not apparently be that big one, but the implications or connotations are. All the 44 students in the Post-Graduate Program in Data Science (PGPDS) stream at the Kolkata-based Praxis Business School, a premier Business School focused on building Digital Leaders of the future, have got reasonably well placed, even in these challenging times. The batch had about 20 per cent women students, who were also recipients of the Praxis WiT (Women in Tech) scholarships. This 100 per cent campus placement is especially creditable considering the Covid situation. And mind you that the recruiters comprised top companies like PricewaterhouseCoopers, Genpact, Fractal Analytics, Alumnus Software, Bridgei2i Analytics, The Smart Cube, Giant Eagle Inc, Poonawala FinCorp and others. The highest offer received by a student of the Praxis January 2021 PGPDS batch was 15.77 lakh per annum while the average remuneration of the batch stood at an encouraging Rs10.19 lakhs per annum.

The development has to be seen in light of the fact that digital transformation across industries because of the pandemic coupled with advancements in technology has brought about a change in the skills required across various business functions. Companies have had to quickly move their operations online and increasingly leverage technology and data to reach customers, understand their needs and provide products and services in an increasingly competitive business environment. Organisations across verticals, increasingly require professionals with expertise in emerging areas such as data science, data analytics, AI, blockchain, cloud computing, cybersecurity, digital marketing, and product management. These are all now essential skills for organisations wishing to participate and win in the digital economy and for individuals to distinguish their profiles.

One also has to keep in mind that the pandemic also helped accelerate this transformation, and many global leaders are either setting a base or expanding their footprint in India. 2021 was a transformational year for this. A report in the earlier part of the last year (2021) had stated that nearly 100 multinational firms are expected to set up their global in-house capability centres, or captive units, in India this year, as per Nasscom.

Significantly, going by a recent study by Zinnov and IT industry body Nasscom, India is expected to have over 1900 Global Capability Centres (GCCs) employing over two million people and generating revenue of $58-$61 billion by 2025. This recently released report said that GCCs are focusing on building skills such as data analytics, AI, ML, blockchain, cloud and tech CoEs to fuel innovation in the country.

The 100 per cent placement of aspiring data scientists at the Kolkata-based premier B-School is just a case in point, a pointer to type of things shaping up in the Indian economy in the days to come.