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.
*IT spending in India is expected to increase to US$ 110.3 billion in 2023 from an estimated US$ 81.89 billion in 2021.
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.
Competitive
Advantage
*In FY21, India ranked third worldwide with 608,000 cloud experts across all verticals, including technology.
*The computer software and hardware sector in India attracted cumulative foreign direct investment (FDI) inflows worth US$ 95.88 billion between April 2000-June 2023.
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.
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