Indian IT sector to grow to $227 billion in 2022: NASSCOM

Tags: Economics/Business National News

National Association of Software and  Services Companies(NASSCOM)  expects the Indian Information Technology(IT) sector to cross $ 200 billion revenue for the first time and is expected to touch $227 billion in 2021-22.

• The  expected growth rate of 15.5% in 2021-22 will be the highest growth rate since 2011 in the revenue of the IT sector .

• It has set a target of $ 350 billion revenue by 2026.

• The IT sector in India created 4.5 lakh new jobs in 2021-22 of which about 44% were women employees. Around 18 lakh women work in the sector . 

• Exports from India grew by 17.2% and it was $178 billion which is over 51 % of India’s total service sector exports.

• Ecommerce recorded a growth of 39 per cent to reach $79 billion in 2021-22.

• The new age digital service sector saw  a 25%  growth in revenue to reach $13 billion  and now contributes to around 32 per cent of  the total IT sector revenue .

• India has  emerged as a global hub for digital talent with over five million tech workers.

• Around  one out of three employees already digitally skilled, the digital tech talent pool is at 16 lakhs.

NASSCOM

• The National Association of Software and  Services Companies(NASSCOM) was set up in 1988

• It is a non profit organisation of IT  sector companies in India  

• It is a lobby group which works for the promotion of the IT sector and its companies in India and abroad.

Chairman of NASSCOM : U.B.Pravin Rao

President : Debjani Ghosh 

Important for Exam 

FULL FORM 

NASSCOM : The National Association of Software and  Services Companies