Revenue of Infosys worldwide FY 2014-2023

In fiscal year 2023, the global revenue of Infosys Limited amounted to about 18.2 billion U.S. dollars, which was a significant increase in comparison to the 16.3 billion dollars last year. This makes Infosys one of the biggest IT services and consulting companies in India.

IT industry in India

The Indian IT industry is famous for providing quality IT outsourcing services for major companies in Europe and North America. India has earned the nickname of “global outsourcing hub”. The IT industry has generated nearly 150 billion U.S. dollars in export revenue in fiscal year 2021 for India. The success of Indian IT industry is due to several reasons, including favorable government policies, a good English-medium educational system, a large population providing abundance of talents, and a fairly open market.

Future in outsourcing

Ironically, thanks to the COVID-19 pandemic, digital transformation has accelerated since 2020, increasing the demand for IT outsourcing services. A major aspect of the trend is cloud computing. This includes segments like infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). These services enable more convenient and cheaper adaptation for outsourcing services. In 2022, it was estimated that the revenue of public cloud services in India would reach 7.3 billion dollars.