Indian IT sector sees highest growth in a decade, adds 4.5 lakh new jobs
- IBEF
- February 16, 2022
India's information technology (IT) sector is expected to rise to US$ 227 billion in FY 22, with a 15.5% growth rate, the highest in over a decade. The industry created has 4,50,000 new jobs in bringing the total number of direct employees to 5 million. Women made up over 44% of new hires, bringing their total number to 1.8 million.
In FY21, the IT industry's revenue increased by 2.3% to US$ 194 billion. Export revenues increased by 17.2% to US$ 178 billion, while domestic revenues increased by 10% to US$ 49 billion. In addition, India's share of new-age digital services increased by 25% to US$ 13 billion, and the country has a strong workforce ready for future innovations. Employees will be a significant emphasis area for companies in the new year with initiatives on upskilling and retention, as well as increased research and development investments.
Nasscom’s President Mr. Debjani Ghosh, stated that he can see a potential revenue of US$ 350 billion by 2021=6 and, ‘India narrative is becoming incredibly compelling.’
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
