IT & BPM.
India is the Global Destination for Digital Talent.
The Indian industry is continually improving its digital capabilities through the adoption of deep tech technologies and the deployment of emerging technological solutions such as AI, cybersecurity, and IoT.
In FY22, the technology industry employed over 450,000 people, totaling 5 million direct jobs, and generated 51% of total service exports. Over 290 mergers and acquisitions were undertaken in the technology business, with a particular concentration on digital. In FY22, almost 280,000 people were reskilled and digitally skilled. Digital sales surged at a rate five times that of overall service growth, accounting for 30-32% of industry revenue.
The Indian government has launched several important measures to develop the IT/ITeS sector in India. In India, both the central and state governments have taken initiatives to build technology solutions to digitally facilitate citizen services. The government intends to prioritise cybersecurity, hyperscale computing, artificial intelligence, and blockchain.
Indian telecom companies are giving 1 GB of mobile data for $0.086—one of the lowest prices in the world. By making data more inexpensive to customers, digital infrastructure facilitates access to services such as banking, governance, and others.
The overall revenue of the IT-BPM business (excluding e-commerce) has surpassed $200 billion and is expected to reach $227 billion in FY2022. In FY2022, the export income from this business (excluding e-commerce) is expected to be close to $ 178 billion. The computer software and hardware sectors draw the second-greatest FDI influx. It attracted around $ 85 billion between April 2000 and March 2022.
When it comes to establishing Global Capability Centres, India is one of the most popular locations (GCCs). In FY21, about 1,400+ GCCs have over 2,300 GCC units in India, employing over 1.38 million professionals.
Software-as-a-Service (SaaS) investment climbed by 62.5% in 2021 and is predicted to reach $6.5 billion in 2022. There are around 1150 active Indian SaaS startups, with 17 of them having achieved unicorn status.
Internet users will have climbed from 6 crores in 2014 to 80 crores in 2022. Optical fibre in panchayats has grown from less than 100 in 2014 to more than 1.7 lakh in 2022.