Technology industry

India’s tech industry targets $227 billion in revenue

India’s tech industry hired nearly 4.5 lakh people in fiscal 2022, the highest-ever net addition across the entire employee base, a new Nasscom report revealed.

India’s tech industry saw an estimated nearly 10% growth in the direct employee pool in FY22, with a net addition of around 450,000 to its employee base, the highest ever .

With one in three employees already digitally skilled, the digital technology talent pool stood at 1.6 million, growing at a compound annual growth rate (CAGR) of 25%, according to the report released by the body. pinnacle of the Indian computer industry.

India has emerged as a global hub for digital talent with over 50 lakh of tech workforce.

India’s tech industry reskilled about 280,000 employees in FY22.

India’s tech industry has over 36% female employees. The tech industry is one of the largest female private sector employers in India with more than 1.8 million women in the workforce, according to the findings.

With over 70% of technology organizations considering adopting hybrid work models, the industry has set global standards for virtual screening, recruiting, onboarding and training, making it a standard of status quo.

India’s tech industry crossed $200 billion in global revenue for the first time and is expected to reach $227 billion in global revenue in fiscal 2022, growing at 15.5%, the highest raised since 2011.

While the IT services vertical is expected to generate $116 billion in revenue in fiscal 2022, the BPM sector is expected to register $44 billion; vertical ER&D $36 billion; hardware segment $17 billion and software products, $13 billion.

Exports (including hardware) grew by 17.2%, generating revenues of $178 billion, or more than 51% of India’s total services exports.

E-commerce grew by 39% to reach $79 billion in 2021-22. The digital revenue share stood at 30-32%, registering additional revenue of $13 billion.