Indian IT & BPM Industry Analysis

India’s technology industry revenue was estimated to be US$ 245 billion in FY23.

Advantage India

Growing
Demand

*In FY22, the top three Indian IT companies, TCS, Wipro and Infosys, were expected to offer 1.05 lakh job opportunities due to the increasing demand for talent and skill.

*India‘s IT and business services market is projected to reach US$ 19.93 billion by 2025.

*The IT spending in India is estimated to record a double-digit growth of 11.1% in 2024, totaling US$ 138.6 billion up from US$ 124.7 billion last year.

Growing Demand

Global
Footprint

*Indian IT firms have delivery centres all across the world.

*IT & BPM industry is well diversified across verticals such as BFSI, telecom and retail.

*Increasing strategic alliance between domestic and international players to deliver solutions across the globe.

Global Footprint

Competitive
Advantage

*India’s technology industry is on track to double its revenue to US$ 500 billion by 2030.

*India’s overall Digital Competitiveness Score of 60 (on 100) , Ahead of every BRICs nations besides China, refelects the rise of tech talent in the country,

*Japanese investments in the Indian IT sector grew 4X between 2016-20. Investments stood at US$ 9.2 billion over the last two decades.

Competitive Advantage

Policy
Support

*In the Union Budget 2023-24, the allocation for IT and telecom sector stood at Rs. 97,579.05 crore (US$ 11.8 billion).

*In September 2022, the new Telecommunications Bill 2022 was published for public consultation by the Ministry of Communications to creating a new telecom framework in India.

Policy Support
Last updated: May, 2024

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India is the topmost offshoring destination for IT companies across the world. Industry is expected to grow to US$ 19.93 billion by 2025.

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