Try our corporate solution for free!

IT industry in India - statistics & facts

Thanks to strong governmental support, good English based educational system, large talent pool, and the open market, India has a flourishing IT industry, and earned a well-deserved place in the global market. Accounting for 7.4 percent of the GDP in the financial year 2022, the IT-BPM has played a significant role in India's socio-economic growth, so much so that it could be the future driver of modern India.

India made up more than 19 percent of the global IT spending. However, the country had a modest beginning in the field. Lacked proper infrastructural facilities for software development, the government formulated a new software policy that allowed more participation and hassle-free trade procedures. Consequently, the sector witnessed an explosive growth especially post economic liberalization of the 1990s.

Within the global business community, India is famous for its high-quality IT outsourcing services. Catering to the needs of the major firms in Europe and North America, India is rightly called as the IT outsourcing hub. As of financial year 2021, India generated nearly 150 billion U.S. dollars in export revenue, five times the size of its domestic market. Among various sub-sectors, the IT services and IT-enabled services were the most sought after in the international market. IT services accounted for more than half of the export revenue generated by the information technology industry. As a result, the industry has created millions of jobs in the country.

While the IT sector in India ensures growth in revenue and employment, it still faces its fair share of challenges. Changing technologies, tough competition in the global market and the impact of the coronavirus pandemic have been testing its strength while providing new opportunities for future growth.

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Vayola Jocelyn
Vayola Jocelyn
Client Support Specialist– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Ziyan Zhang
Ziyan Zhang
Customer Relations– Contact (Asia)

Mon - Fri, 11:30am - 10pm (IST)

Contact Kisara Mizuno
Kisara Mizuno
Customer Success Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Associate Director - LAC– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)