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Indian technology industry crossed the $200 billion revenue mark, reaching $227 billion revenue in FY22, witnessing a $30 billion incremental revenue in the year with an overall growth rate of 15.5 per cent. Recording the highest ever growth since 2011, said Nasscom in its Strategic Review. The industry association is also confident that the industry can achieve the ambitious target of $350 billion by FY26, growing at a rate of 11-14 per cent.
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The industry added 450,000 new hires in FY22, the highest ever, taking the total direct employee base of the industry to 5 million. India has emerged as a global hub for digital talent with over a 5 million tech workforce. With 1 out of 3 employees already digitally skilled, the digital tech talent pool is at 1.6 million, growing at a CAGR of 25 per cent. With a massive focus on reskilling and upskilling, the Indian tech industry reskilled approximately 280,000 employees in FY22. With over 36 per cent of women employees, the Indian tech industry is one of the largest private-sector women employers in India, with over 1.8 million women in the workforce.
Rekha M Menon, a chairperson, NASSCOM, said, “Fiscal 2022 has been a breakthrough year for the Indian technology industry. We’ve posted solid, broad-based growth massively increased jobs and are proud that we continue to be an engine for India’s economic growth and a beacon for inclusion and diversity. We are excited about the opportunities in the Techade as we enter an era of exponential transformation and technology becomes indispensable to progress. We remain committed to catalysing the trillion-dollar digital economy with our focus on talent, technology, collaboration, and innovation.”
