What is the future of Indian IT industry?

India’s technology services industry can achieve $300-350 billion in annual revenue by 2025 if it can exploit the fast-emerging business potential in cloud, artificial intelligence (AI), cybersecurity and other emerging technologies, according to a report by industry body Nasscom and global consulting firm McKinsey .

IS IT sector going to grow in India?

Information Technology (IT) And currently, it’s the time for information. As a general matter of fact, IT companies are growing at a much faster rate compared to manufacturing companies. And hence IT stocks can be treated as one of the best sectors for long-term investment in India.

What is the future of IT sector in India Quora?

Exports from the Indian IT industry are expected to increase by 1.9\% to reach US$ 150 billion in FY21. In 2020, the IT industry recorded 138,000 new hires. Artificial Intelligence (AI) is expected to boost India’s annual growth rate by 1.3\% by 2035, as per NITI Aayog.

Is the IT industry growing?

CompTIA projects the global information technology industry will grow at a rate of 3.7\% in 2020. The optimistic upside forecast is in the 5.4\% range, with a downside floor of 1.9\%. Growth expectations for the U.S. market are in line with the global projection.

Is there an IT boom in India?

In June, hiring demand by the IT software and services sector was 55 percent higher than it was in January 2021, and 51 percent higher than it was in June 2019, according to Naukri JobSpeak, an index of hiring activity across a range of industries in India. …

Is Indian IT industry the best in the world?

Indian IT industry takes pride in announcing that the country has acquired the honor of being world’s top sourcing destination in 2016-2017 with 55\% share in the global market. It indicates a growth of 8\% in the IT industry which has been occupied half of the country’s service export and almost 7.7\% of GDP.

WILL IT industry survive in India Quora?

After 20 years If India is on way to become a developed economy then the IT services companies will lose their business because cost of living will be more and they will not get decent engineers for less salary. The job will go to countries which are poor in 2034 and have a English speaking crowd.

What is the future of Indian IT employees?

Nasscom: 50\% Indian IT Employees Will Work From Office From This Date. A report by IT industry body NASSCOM on November 1 suggests that more than half of India’s technology workforce will start going to office at least three days a week from January 2022, considering the ease of COVID-19 restrictions.

What is the future of IT companies?

With a 6.1\% growth in the year 2019, India’s IT-BPM sector stood at $177 Billion and approximating growth at this rate, the industry will develop to $ 350 Billion by the year 2025. Speaking of IT and ITES Industry; it grew to $ 181 Billion in the financial year of 2019 as domestic revenue advanced to $ 44 Billion.