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.
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
NASSCOM : The National Association of Software and Services Companies
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