According to the Economic Times, Capgemini, a French IT giant, is on a hiring spree in India, with intentions to hire nearly 60,000 people this year.

Freshmen and laterals will be among the new hires, with a focus on upcoming technologies such as 5G, quantum computing, and the metaverse. Capgemini, which partnered with Ericsson to open a 5G lab in India last year, is trying to develop solutions that can be marketed. “A lot of the new generation technology skills are being incubated or built-in India,” stated CEO Ashwin Yardi.

The company has formed alliances with educational institutions to assist students in developing technical skills in areas such as cloud and cybersecurity. To combat attrition, it has also undertaken programs such as quarterly promotion cycles.

According to the Times of India, Indian IT companies are likely to hire roughly 360,000 freshers in FY22, with TCS, Infosys, HCL, and Wipro at the top of the list. What’s driving this hiring boom? A major skills shortage compounded by high retention, as well as a strong business climate with substantial deal pipelines.