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Showing posts with the label Tech Market

India's IT Sector: A Decade of Remarkable Growth

  Over the past decade, the Indian Information Technology (IT) sector has emerged as a powerhouse, propelling the nation's economy forward and garnering global recognition. With significant contributions to GDP, substantial revenue generation, and the creation of millions of jobs, the Indian IT industry stands as a backbone to the country's prowess in the digital age.   1. Contribution to GDP The IT-BPM (Information Technology and Business Process Management) industry has become an integral part of India's economic landscape, accounting for a substantial portion of the Gross Domestic Product (GDP). In the financial year 2023, it contributed approximately 7.5% to the GDP, marking its significance in driving economic growth and modernization.   2. Revenue and Exports The Indian IT sector has been a consistent revenue generator, showcasing impressive growth year after year. In 2022 alone, it generated a staggering $227 billion in revenue. Projections indicate a fur

The Thriving Tech Market in India: A Glance into 2023

India's tech market has undergone significant transformations in recent years, solidifying its position as a global technology powerhouse. With a vast pool of tech talent, a rapidly growing digital user base, and government initiatives promoting innovation, India's tech sector has been on an exciting journey. In 2023, let's take a closer look at the various aspects that make the Indian tech market vibrant and dynamic. In all, we estimate that India’s newly digitizing sectors have the potential to create sizable economic value by 2025: from $130 billion to $170 billion in financial services, including digital payments; $50 billion to $65 billion in agriculture; $25 billion to $35 billion each in retail and e-commerce, logistics and transportation; and $10 billion in energy and healthcare. 1. The IT Services Powerhouse Continues to Shine India's IT services sector remains a dominant force in the global market. Companies like Tata Consultancy Services (TCS), Infosys,