Last Updated: October 16, 2018
Last Updated: October, 2018
India is the world's largest sourcing destination, accounting for approximately 55 per cent of the US$ 185-190 billion market in 2017-18. India’s highly qualified talent pool of technical graduates is one of the largest in the world and the country has a low-cost advantage by being 5-6 times inexpensive than US.
Revenue of India’s IT industry reached US$ 167 billion and exports stood at US$ 126 billion in 2017- 18. Export revenue from digital segment forms about 20 per cent of the industry’s total export revenue.
Total export revenue of the industry is expected to grow 7-9 per cent year-on-year to US$ 135-137 billion in FY19. Further, India’s IT-BPM sector is expected to expand to US$ 350 billion by 2025 and BPM is expected to account for US$ 50-55 billion out of the total revenue. Moreover, revenue from the digital segment is expected to form 38 per cent of the total industry revenue by 2025.
The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 32.23 billion between April 2000 and June 2018 and ranks second in inflow of FDI, as per data released by the Department of Industrial Policy and Promotion (DIPP).
The Government of India has extended tax holidays to the IT sector for software technology parks of India (STPI) and Special Economic Zones (SEZs). Further, the country is providing procedural ease and single window clearance for setting up facilities.
Also, the government has identified Information Technology as one of the 12 champion service sectors for which an action plan is being developed. It will set up a Rs 5,000 crore (US$ 745.82 million) fund for realising the potential of these champion service sectors.
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Last Updated: October 16, 2018
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