58% Indian cos boost learning & development budgets for FY25

New Delhi: About 58.5 per cent of organisations in India have increased their learning and development budgets for FY25, according to a report on Monday.

The report by Great Learning, a leading global edtech company, is based on trends observed among the company’s client partners across various sectors and insights from a survey of over 100 learning and development and business unit heads.

It showed that in FY24, four out of five companies reported reduced hiring costs due to effective internal talent development. For 64 per cent of these enterprises, the main goal of investing in workforce training was to cultivate emerging skills among early-career professionals to fuel business growth.

About 36 per cent of organisations focused on enhancing productivity, innovation, and creativity to improve overall effectiveness and foster a culture of innovation.

Further, the report showed that Indian enterprises led by the IT sector and followed by analytics and digital solutions firms have placed a strong emphasis on training in artificial intelligence (AI), machine learning, data science, and data engineering. About 76.6 per cent of companies have prioritised these areas.

The focus is expected to continue in FY25, as the survey shows that most organisations plan to increase their investment in training employees in these critical fields, it said.