IT & ITeS Industry in India
The IT industry in India is a major part of Indian economy. Last year, Indian IT / ITeS Industry showing remarkable face of the global economy. The future of this industry involved between “Business Models for Sustained Growth” which aims to look beyond the visible horizon into emerging trends and business models, that defined the future of a industry. By going through a comprehensive national level survey covering both the “service providers as well as client community” of IT / ITeS in India research and analysis report, it shows the present overview of the current industry and future possibilities of developments. This report throws light on the following critical aspects:
- The Small and Medium IT / ITeS Providers
- Emerging Technologies
- Emerging Markets and Delivery Geographies, and
- Evolving Business Trends
IT industry in India – Statistics & Facts
- In 2015, 98.1 billion U.S. dollars, was generated in exports while domestic revenue more than 20 billion U.S. dollars.
- In the 2014-15 financial year alone, the IT industry in India generated an annual revenue of around 120 billion U.S. dollars, with significant increase from around 60 billion U.S. dollars in 2008/09.
- In 2013, IT and its sub sectors represented overall 8% of GDP of the nation, and make it the fifth largest industry in India.
Future Market Size
- As the Indian IT industry is continuous to increase, the end-user spending on the market is forecasted on rise. Indian IT exports projects to grow at 7-8 per cent in 2017-18, with adding new jobs during the same period.
- In 2017-18 Digital payment in India is expected to grow 62% which was 32% in 2013-14 in terms of volume of transactions.
- By 2022, India’s digital economy have the potential to reach US$ 4 trillion, as the Indian Government estimate it US$ 1 trillion.
- By 2025, Indian IT and BPM industry is expected to grow to US$ 350 billion and BPM is expected for US$ 50-55 billion out of the total revenue.
- By 2026, E-commerce market in India is set to grow US$ 200 billion gross merchandise values by 30% annually.
Government Initiatives
- To make India 1 US$ trillion digital economy. The Government of India is going to explore new opportunities in BPO services from home, digital healthcare and agriculture sectors.
- The Government of Andhra Pradesh is targeting to attract investments worth US$ 2 billion and create 100,000 jobs in the information technology (IT) sector in the state
Road Ahead
Across the world, India is the topmost offshoring destination for IT companies due to its capabilities in delivering both onshore and offshore services to global clients, now offering an entire new opportunities for top IT firms in India.