New India: The future is virtual
Indian industry is consistently strengthening its digital capabilities by adopting deep tech technologies and focusing on deploying emerging technology solutions such as AI, Cybersecurity, and IoT
In FY22, the Technology industry employed over 450,000 employees to reach a total direct employment of 5 mn, and contributed 51% to overall services exports. With their primary focus as digital, the tech industry undertook over 290 M&As. Over 280,000 employees were reskilled and made digital skilled in FY22. At 30-32% of industry revenue, digital revenues grew five times the rate of overall services growth.
Government of India has taken some major initiatives to promote IT/ ITeS sector in India. Both central and state governments in India have taken steps towards developing technology solutions to digitally enable citizen services. The government plans to focus in areas such as cybersecurity, hyper-scale computing, artificial intelligence, and blockchain.
Indian telecoms are offering 1GB mobile data at $0.086 - one of the cheapest globally. By offering affordable data to consumers, the digital infrastructure enables ease of access to services like banking, governance and more.
Second highest number of internet subscribers in the world.
Up to 100% FDI is allowed in Data processing, Software development and Computer consultancy services; Software supply services; Business and management consultancy services, Market research services, Technical testing and Analysis services, under automatic route
For further details, please refer FDI Policy
Share in India's GDP
- > %
Share in global outsourcing market
Growth in export revenue
- > %
Share in Indian services export
Largest market share in global services sourcing industry
Third largest and the fastest growing hub for technology startups
India is No.1 in digital skills readiness
- Industry Scenario
- FOREIGN INVESTMENT
- INDUSTRY TRENDS
- POLICIES & SCHEMES
#1 in software services exports
The IT-BPM industry’s (excluding e-commerce) total revenue crossed the $200 bn mark to reach $227 bn in FY2022. The export revenue from this industry (excluding e-commerce) has been estimated at close to $ 178 bn in FY2022. In terms of FDI inflow, the computer software and hardware sectors attract the second highest FDI. Between April 2000 and March 2022, it attracted over $ 85 bn.
India secured 1st rank in “AI talent concentration”. Also, India secures 5th rank in “FTTH/Building Internet subscriptions” and “AI scientific publications”.
India is one of the most preferred destinations when it comes to setting up Global Capability Centres (GCCs). In FY21, more than 1,400+ GCCs have more than 2,300 GCC units in India, employing more than 1.38 mn professionals.
Over 45 new data centers to come up in India by 2025.
Data centres in India attract investment of $10 bn since 2020.
Investment in Software-as-a-Service (SaaS) has increased 62.5% over 2021 and is expected to reach $6.5 bn in 2022. There are 1150+ active Indian SaaS companies; 17 of which have achieved the unicorn status.
Internet users have increased to 80 crores in 2022 from 6 crores in 2014. optical fiber in panchayats have increased from less than 100 in 2014 to 1.7 lakh panchayats in 2022.
The Ministry of Electronics and Information Technology released the National Strategy on Blockchain to reduce frauds, speed up enforcement of contracts, and increase the transparency of transactions.
Increased focus on remote working and cloud enablement
The National Optical Fibre Network (NOFN)
1.78 lakh Gram Panchayats connected by optical fibre
Digital India Programme
India is the 2nd Fastest Digitizing Economy Globally
IoT, machine learning, artificial intelligence and healthcare
AI & new-age technology to boost India's annual growth rate by 1.3% by 2035 (NITI Aayog white paper)