Large contribution to the Indian economy
- The IT industry accounted for 8% of India’s GDP in 2020.
- India’s IT industry is expected to contribute 10% to India’s GDP by 2025.
- As of FY20, the IT industry employed 4.3 million people.
Strong growthopportunities
According to National Association of Software and Service Companies (Nasscom), the Indian IT industry’s revenue is estimated to reach US$ 194 billion in FY21, an increase of 2.3% YoY.
As per a survey by Amazon Web Services (2021), India is expected to have nine times more digitally skilled workers by 2025. This indicates that a total of ~ 3.9 billion digital skill trainings will be expected by 2025. As of 2021, digitally trained employees constitute 12% of the country’s workforce.
Export and employment growth
Exports from the Indian IT industry are expected to increase by 1.9% to reach US$ 150 billion in FY21.
The BPM sector in India currently employs >1.4 million people, while IT and BPM together have >4.5 million workers, as of FY21.