homeinformation technology NewsIT industry revenue to cross $200 billion in FY2022: NASSCOM
information technology | Feb 15, 2022 3:08 PM IST

IT industry revenue to cross $200 billion in FY2022: NASSCOM

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Nasscom's president Debjani Ghosh said that it was a watershed year for the tech industry, which grew on the back of its persistent focus on customer-centricity.

The Indian IT industry is expected to clock revenue of $227 billion in FY2022 against $196 billion last year, the NASSCOM Strategic Review report revealed. The industry, which has a total workforce of around 5 million, is likely to register a 15.5 percent growth, the highest since 2011, the industry body said.

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NASSCOM's president Debjani Ghosh said that it was a watershed year for the tech industry, which grew on the back of its persistent focus on customer-centricity. According to Ghosh, this was a year of resurgence which came after the one of resilience following the Covid-19 pandemic.


“The industry has added $100 billion in ten years; the first $100 billion took 30 years,” Ghosh said.

A total of 4.5 lakh new hires were added in FY22 so far, the highest ever in a single year, which takes the overall direct employees to 50 lakh people. Of the total, 44 percent of the new hires were women and their overall share is now 18 lakh in the industry.

Export revenues grew at the pace of 17.2 percent to $178 billion this year from $151 billion, while domestic revenues clocked a 10 percent growth to $49 billion, led by growth in hardware and products.

The industry announced nearly 300 acquisitions during the year. Of the total services exports out of India, IT services exports account for 51 percent at present. Share of new-age digital services stood at $13 billion, the report added.

At present, there are 1,430 global capability centres in the country, which is 1.4 times higher than FY15.

On the talent front, FY22 saw a 10 percent estimated growth in direct employee pool. According to Ghosh, there is a 21.1 percent demand-supply gap in India, which is among the lowest key global markets.

Though NASSCOM does not provide a growth projection for the future, the industry body said a chief executives' survey pointed at another growth year.

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