IT industry patron Nasscom has said that India's tech industry crossed the $200 billion mark in overall revenue for the first time and is expected to hit $227 billion in overall revenue during the fiscal year 2022 with a growth rate of 15.5%, the highest since 2011.
The Indian tech industry clocked double-digit growth across sub-sectors, with an addition of $30 billion revenues in FY22 and nearly 450,000 jobs. Meanwhile, the IT Services vertical is set to clock $119 billion in revenues in FY2022, the BP sector is set to log $44 billion; the ER&D vertical $36 billion; the hardware segment $17 billion, and the software products, $13 billion.
Exports also recorded a growth of 17.2% clocking revenue of $178 billion which is more than 51% share of the total services revenue of $13 billion. E-commerce recorded a growth of 39% to reach $79 billion in 2021-2022.
With more than 365 women employees, making it the world's most private-sector women employees in millions, The industry also witnessed maturity in the software products with the presence of 2,000 software products and companies and SaaS companies in India.