Indian IT revenues pick up thrust in a decade to USD 227 bn in FY22
Indian IT revenues pick up thrust in a decade to USD 227 bn in  FY22

According to industry association Nasscom, India's information technology sector is et to become USD 227 billion in FY'22, representing a 15.5 percent increase.

The 15.5 percent increase is the greatest in almost a decade, according to Nasscom president Debjani Ghosh, who described it as a year of resurgence after the year of resilience following the pandemic. In FY21, industry revenues increased by 2.3 percent to USD 194 billion.

Nasscom stated in its annual strategy review for FY22 that the industry gained 4.5 lakh new positions, bringing the total number of direct employees to 50 lakh. Women made up over 44 percent of new hires, bringing their total number to 18 lakh. Export sales increased 17.2 percent to USD 178 billion, while domestic revenues increased 10 percent to USD 49 billion, according to the report. According to Ghosh, India's share in new-age digital services increased by 25 percent to USD 13 billion, and the country has a strong workforce ready for future technologies.

Nasscom, which no longer forecasts future growth, said a survey of chief executives pointed to another year of increase. Over 70 percent of respondents surveyed believe they will be able to maintain growth in 2022.

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