IT-ITes Sector & Employment –

According to a report by IBEF, in FY22, the IT sector contributed 7.4% of India’s GDP, and by 2025, it is anticipated to make up 10% of India’s GDP. The Indian IT industry’s revenue touched US$ 227 billion in FY22, a 15.5% YoY growth¹.

Industry body Nasscom said on Tuesday that the sector revenue is estimated to rise by 15.5% to $227 billion in 2021-22².

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According to a report by Deccan Herald, the Indian IT industry had faced several challenges since its evolution starting from dotcom bubble burst, global financial recession and then increased protectionism and anti-outsourcing waves¹.

India’s $190 billion information technology (IT) industry had a successful revenue run since the Covid-19 pandemic struck, leveraging the acceleration in digital transformation by the global economy. However, the growing unicorns are posing attrition challenges to the IT industry².

The Indian government has taken various initiatives to promote Information Technology and Information Technology enabled Services (IT/ ITeS) sector in the country. Some of the initiatives are as detailed below:

• The Ministry of Electronics and Information Technology (MeitY) has launched the National Policy on Software Products (NPSP) 2019 to promote the software product ecosystem in India. The policy aims to create a conducive environment for the development of software products in India and to make India a hub for software products¹.
• The Government of India (GoI) has approved the National Geospatial Information System (NGIS) to support the software product ecosystem and address a significant portion of NPSP 2019. It is envisaged to create a vibrant software product ecosystem to complement the robust IT services industry in India¹.
• India’s IT-BPM industry (excluding e-commerce) is expected to grow by 15.5% to reach at USD 227 billion, including exports of 178 USD Billion in FY2021-22².
• According to a blog post by Khatabook, the top 10 cities for doing business in India are Mumbai, Pune, Bangalore, Delhi, Hyderabad, Chennai, Kolkata, Indore, Ahmedabad and Nagpur¹.

  However, some of the cities with a strong IT presence in India are Hyderabad², Bangalore¹, Pune¹, Chennai¹, Mumbai³ and Delhi³.