New Delhi, Nov 14 (IANS): The $4.9 billion India’s IT-flexi staffing industry is poised for a steady 7 per cent annual growth through FY 2024-FY 2026, according to a report on Thursday.

The Indian IT-flexi staffing market currently has a workforce of 597,000. Global capability centres (GCCs) demonstrate a higher penetration rate in IT-flexi staffing (8.2 per cent) compared to traditional IT-ITeS firms.

IT/ITeS and GCC collectively hold half of the market share employing 49 per cent of the total IT Flexi Staffing Workforce,” according to the report by the Indian Staffing Federation (ISF).

“The regional expansion and growing penetration of flexi staffing models underscore India’s role as a leader in the South Asia Pacific staffing market,” said Lohit Bhatia, President of ISF.

India’s continued growth as a hub for flexible staffing is essential to meeting the competitive demands of the digital economy.

The IT flexi staffing industry focuses on supplying temporary or contract IT professionals to client organizations flexibly. According to the report, emerging cities like Ahmedabad, Coimbatore, Visakhapatnam, Surat, Kochi and Nagpur are becoming key hubs.

The report indicated that 38 per cent of organisations regard the ease of doing business and the availability of talent as critical factors for success.

Additionally, it asserted that India is the second-largest player in the South Asia-Pacific (APAC) region within the rapidly expanding APAC IT staffing market.

States with a strong IT infrastructure and inclusive policies see higher female participation in the workforce.

“Conversely, male dominance persists in states with traditionally male-dominated sectors such as manufacturing and engineering. The IT female labour workforce participation rate is averaging at 37 per cent,” said Suchita Dutta, Executive Director of ISF.