Indian IT industry reached $200 billion in revenues; $30 billion added in the last year: Nasscom By CIOReviewIndia

Indian IT industry reached $200 billion in revenues; $30 billion added in the last year: Nasscom

CIOReviewIndia | Tuesday, 15 February 2022, 07:21 IST

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The Indian IT services industry grew by $30billion last year, crossing $200 billion in revenues in 2021 according to the Nasscom Strategic Review on Tueday. The IT services industry has grown by over 2 times to $227 billion, and has a total workforce of 5 million. “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.

The industry added a total of 4.5 lakh new hires during FY22, the highest ever in a single year, of which 44% were women. The IT industry is now the largest private sector employer of women with over 1.8 million women part of the sector.

Overall, exports contributed $178 billion to total revenues, growing by over 17% while the balance was domestic, led by growth in hardware and products. There were close to 300 acquisitions announced during the year. IT services exports now account for 51% of the total services exports out of India.

India now has 1430 global capability centers, 1.4 times higher as compared to FY15. These multinationals now hire 1.3 million people in India, and have set up over 2,360 centres in the country. On the talent front, Ghosh said that the demand supply gap in India was at 21.1%, among the lowest among key global markets.

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