Information technology industry body Nasscom believes that the revenue of Indian IT sector will grow at 5.1% to $282.6 billion in the financial year 2024–25.
Rajesh Nambiar, president of Nasscom, expects the sector to cross $300 billion in revenues in fiscal 2026, which is an about 6% jump from the fiscal 2025 level.
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“This is a good outcome broadly given everything happening around us,” Nambiar said, while speaking at the Nasscom Technology Leadership Forum in Mumbai.
According to Nasscom, the number of people employed by the technology sector grew by 1.26 lakh to 58 lakh persons during the ongoing fiscal.
The fiscal 2025 revenues of the traditional IT services companies are expected to rise by 4.3% to $137.1 billion.
At the same time, revenues of the business process outsourcing firms are set to rise by 4.7% to $54.6 billion.
At 7%, revenue growth of engineering, research and development companies was the fastest at $55.6 billion.
The domestic revenues for companies are set to grow 7% to $58.2 billion, faster than the 4.6% increase in export revenues which are likely to come at $224.4 billion.
The export revenues are split evenly between the global multinationals and India-based companies, Nambiar noted.
With PTI inputs
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