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In 2024, the spending in the information technology sector across India was around *** billion U.S. dollars. It was projected that in 2025, the IT spending of India would reach more than *** billion dollars. The IT-BPM industry contributed about seven percent to the GDP of the nation. The industry also generated a revenue close to *** billion dollars in the financial year 2024. Communication services and the devices have been the dominant segments of the IT industry. The IT and ITeS firms of the country have set up over a thousand global delivery centers in about ** countries globally.

IT-BPM at a glance

The industry has generated maximum employment in the private sector. It also made the country, the leading offshoring destination for global IT companies. Major IT firms in the country like Infosys, Wipro, TCS and Tech Mahindra have diversified options available in blockchain, artificial intelligence, robotics, financial services, cloud computing and much more. Banking and financial services had the largest share of annual contract value in the industry.

Recent trends

Public cloud services have picked up a lot of attention in recent years in the country. The market for cloud services was valued at over *billion dollars in 2023. Artificial intelligence (AI) has also attracted many attentions. In 2023, the investment in AI has reached *** billion dollars in the country. Emerging technologies in the sector could provide the nation with an opportunity to surf for a big growth, both in onshore and offshore services revenues.