Bright sunny days over, Indian IT industry braces for big churn.
With revenues of $ 160 billion employing a workforce of nearly 4 million, the Indian information and technology (IT) sector is without exception the first industry that showcased India’s prowess at low cost problem solving to the wide world. Kick-started largely thanks to the Y2K scare that gripped the world in late 1990’s, India firmly established itself at the forefront of outsourcing game.
The industry today contributes over 9 per cent of India’s GDP and 45 per cent of country’s total services export and is at the centre of the country’s economic progress. By 2025, it is expected to more than double its size at $ 350 billion. Yet, not everything is hunky dory as the low hanging fruits have been plucked and the days of high growth are over. Login/Sign up to read more…Tagged: GDP, Investment, Information Technology, Digital India, Innovation