siliconindia | | DECEMBER 20219In 2020, 11 new unicorns (private tech companies with a valuation of at least $1 billion) were created in a country that had been one of the hardest hit by the pandemic -- the similar of the previous three years combined. India had 15 new unicorns in the first half of 2021, raising $6 billion at a total valuation of $28 billion. According to Investcorp, 100 new unicorns will be created in the country by 2025.Workforce to Meet the New Service Demands Traditional back-end services will be disrupted and reinvented as a result of the rise of automation. However, India is cementing its position as the world's most popular outsourcing destination by preparing its workforce to meet these new service demands. As automation turns into a global reality, having an Indian team develop new skills for the digital age helps foreign companies anticipate new demands in an increasingly digitized workplace.The emergence has significantly persuaded the banking sector of revolutionary technologies that are rapidly changing and adapting to customer requirements. The use of biometrics, wearable technology, facial recognition, and AI-enabled banking systems for hassle-free customer service will expand to total capacity with the availability of talent skilled in operating such systems. The process of developing an efficient talent pool begins with campus placements. Dedicated training programs, an internal talent management framework, and flexible work policies will help you become a preferred employer.The government of Prime Minister Narendra Modi, who took office in 2014, prioritized digital transformation. Startups are increasingly being recognized as important engines of economic growth by both the federal and state governments. Furthermore, startups are expected to create jobs, helping to reduce the country's high unemployment rate. Startups accounted for 2.64 percent of total jobs created in India in 2018; they are expected to create between 200,000 and 250,000 jobs in 2019. India is cementing its position as the world's most popular outsourcing destination by preparing its workforce to meet these new service demands
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