Nasscom’s president Debjani Ghosh termed it as a year of resurgence with 15.5 per cent growth, the highest in over a decade after resilience in the immediate aftermath of the pandemic. The industry revenues had grown by 2.3 per cent to $194 billion in FY21.
Industry body Nasscom on Tuesday said India’s information technology sector is set to become a $227 billion industry in FY’22, registering a 15.5 per cent growth.
Nasscom’s president Debjani Ghosh termed it as a year of resurgence with the 15.5 per cent growth, the highest in over a decade after the one of resilience in the immediate aftermath of the pandemic. The industry revenues had grown by 2.3 per cent to $194 billion in FY21.
Nasscom said the industry added 4.5 lakh new jobs to take the overall direct employees to 50 lakh people in its yearly strategic review for FY22. Over 44 per cent of the new hires were women, and their overall share is now 18 lakh.
Export revenues grew 17.2 per cent to $ 178 billion, while the domestic revenues grew 10 per cent to $49 billion, it said.
Share of the new age digital services grew 25 per cent to $13 billion and India has a strong workforce geared for technologies of the future, Ghosh said.
Nasscom, which has ceased to give a growth projection for the future, said that a chief executives' survey pointed to another growth year. Over 70 per cent of those polled said they will be able to maintain growth in 2022 as well.
Ghosh said the grouping “clearly” sees an ability to reach $ 350 billion in revenues by 2026, saying the “India narrative is becoming tremendously powerful”.
According to the survey, employees will be the key focus areas for companies in the new year, with measures on upskilling and retention, while research and development investments will also accelerate.
Also read: No turf war: FM Sitharaman, govt and RBI on same page on cryptos
Also read: Explained: What you must know about LIC IPO, the country's largest to date
Also read: Tata Sons names Turkish Ilker Ayci as CEO and MD of Air India
