"As India transitions to become a knowledge-based economy, it requires a new generation of educated, skilled and talented workforce. This report will address key issues of employability, by generating efficient workforce functions, employment opportunities, increase productivity and drive innovation and growth in the country," Nasscom president R Chandrasekhar said.

According to the report, the annual supply of engineers is estimated to be at 7 lakh in the previous fiscal.

Nasscom observed that the expected growth rate in hiring, though substantial, will be slower than the growth in revenues of the industry.

While the industry's revenues are expected to grow at 12.8 per cent annual compound growth rate, the same for employment is likely to be at 8.6 per cent, it said.

Earlier this week, the apex industry body, while projecting better times ahead, had forceast a 13-15 per cent rise in exports to around USD 99 billion in the next fiscal.

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