India is the world's most popular sourcing destination in the IT & BPM sector, accounting for a market share of around 55% of the global services sourcing industry. Over 4.5 million people are employed in the Indian IT and BPM sector.
The IT industry currently contributes 8% to India's GDP, with the government rules and incentives favoring investments in the same. The cumulative revenue generated by of imports and exports in the IT and BPM sector is estimated at US$ 194 billion.
Reasons for Investing
- India has over 6 million cloud experts with diversified capabilities.
- Indian IT firms are equipped with global delivery centers across diverse niches like BFSI, telecom, and retail.
- Several IT centers have been fostered due to the country's rapidly expanding urban infrastructure.
- Computer software & hardware have emerged as the leading sector with roughly 44% of total FDI equity inflow.
- The Government of India is keen on finding artificial intelligence-based solutions to improve governance, agricultural processes, defense, and cybersecurity.
Industry Growth Factors
- Non-linear revenue growth due to automation of platforms, products, and workforce in emerging countries and sectors.
- IT spending is increasing and is estimated to reach US$ 98.5 billion in 2022.
- Renewed demand for IT services in the United States and Europe.
- The usage of IT in new verticals like retail, healthcare, and utilities is propelling the Indian IT industry forward.
- With over 6 million digitally skilled human resources, India is building a future-ready digital workforce.
- Enhanced focus on 5G technologies, hyper-scale computing, and telecom security by leveraging digital technology.
TIGS brings out the best solutions to assist your business in finding the right way forward to penetrate the Indian market. We are a one-stop solution to make the right trade and investment decisions in India as per your business needs.
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