Indian technology industry aims $227 billion in revenue

The Indian technology industry hired nearly 4.5 lakh people in FY2022, the highest-ever net addition in the overall employee base, a new Nasscom report revealed.
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The Indian technology industry recorded nearly 10 percent estimated growth in direct employee pool in FY22 with a highest-ever net addition of approximately 450,000 to its employee base.

With one out of three employees already digitally skilled, the digital tech talent pool stood at 1.6 million, growing at a compound annual growth rate (CAGR) of 25 percent, according to the report released by Indian IT industry’s apex body.

India has emerged as a global hub for digital talent with over 50 lakh tech workforce.

The Indian tech industry reskilled approximately 280,000 employees in FY22.

Indian tech industry has over 36 percent women employees. The tech industry is one of the largest private sector women employers in India with over 1.8 million women in the workforce, the findings showed.

With over 70 percent tech organisations looking at adopting hybrid work models, the industry has set global standards on virtual screening, recruitment, onboarding and training, making it a business-as-usual norm.

The Indian technology industry crossed the $200 billion in overall revenue for the first time, and is set to reach $227 billion in overall revenue in FY2022 — with a growth rate of 15.5 percent which is the highest-ever since 2011.

While the IT Services vertical is set to clock $116 billion in revenue in FY2022, the BPM sector is set to log $44 billion; ER&D vertical $36 billion; hardware segment $17 billion and software products, $13 billion.

Exports (including hardware) recorded a growth of 17.2 per cent clocking revenue of $178 billion which is over 51 percent share of India’s total services exports.

Ecommerce recorded a growth of 39 percent to reach $79 billion in 2021-22. Digital revenue share stood at 30-32 percent, recording an incremental revenue of $13 billion.