With the increasing dependence on technology, it has come to light that the Indian IT services industry grew by $30billion last year, crossing $200 billion in revenues in 2021.

 

Industry body Nasscom on Tuesday said that the Indian IT sector will become a $227 billion industry in the current fiscal, registering a 15.5 per cent growth.

 

“This has been a watershed year for the tech industry thanks to the persistent focus on customer centricity…The industry has added $100 billion in ten years; the first $100 billion took 30 years,” said Debjani Ghosh, president, Nasscom.

 

In 2020-21, the revenues of the IT industry witnessed a 2.3 per cent jump to $194 billion. In its yearly strategic review for 2021-22, the industry body further stated that the sector added 4.5 lakh new jobs during FY22, the highest ever number in a year.

 

The new jobs took the number of overall direct employees to 50 lakh people.

 

Of the 4.5 lakh new hires, 44 per cent were women, there overall share being 18 lakh. It is worth noting that the IT industry is now the largest private sector employer of women.

 

Moreover, $178 billion was contributed to the revenues by exports, which grew by over 17 per cent. IT services exports now account for 51 per cent of the total services exports out of India.

 

The Nasscom Review also underlined that the country now has 1,430 global capability centers, which is 1.4 times higher as compared to FY15. These multinationals now hire 1.3 million people in India.

 

Ghosh also added that new age digital services share grew 25 per cent to $13 billion.