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India: Emerging analytics hub and world's launchpad

IBEF:  June 30, 2016

Cover letter: India's analytics industry is expected to grow eight-fold to touch US$ 16 billion by 2025 from the current US$ 2 billion, as per Nasscom. Currently, India is among the top ten destinations for analytics and is expected to be among the top three in the world by 2025 having 32 per cent share in the global market. There are over 600 analytical firms in India employing over 90,000 professionals. Indian analytics market is expected to continue growing at 26 per cent compounded annual growth rate (CAGR) which can be expected to enable India to soon emerge as a big data and analytics hub of the world.

In another significant development, the Indian Space Research Organisation (ISRO) successfully launched 20 satellites and injected them into the required orbit recently, launching the maximum number of satellites in a single mission ever. The launch took place aboard the Polar Satellite Launch Vehicle (PSLV-C32) at 9:26am at the Satish Dhawan Space Centre in Sriharikota. With this successful launch, India has now launched 74 foreign satellites for 20 countries to date. 

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Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.