Press Release: India’s Tech Sector Anticipates Major Growth in FY25
India’s technology sector is on track to add 126,000 jobs in FY25, propelling its workforce to a record 5.8 million. Celebrating National Technology Day, Defence Minister Rajnath Singh and the Defence Research and Development Organisation (DRDO) acknowledged the significance of the 1998 Pokhran nuclear tests in shaping India’s strategic and technological landscape.
Despite global economic challenges, including political volatility and rising trade barriers, India’s digital economy is flourishing. Key growth drivers include robust demand from the US, a recovering banking, financial services, and insurance (BFSI) sector, and expansions in telecom, retail, and healthcare across the Asia-Pacific region.
According to the National Association of Software and Service Companies (Nasscom), the technology sector is projected to generate $283 billion in revenue for FY25, reflecting a 5.1% year-on-year growth. Export revenue is expected to surpass $200 billion, while domestic revenues will likely reach $60 billion, an increase of 7% from the previous year.
Artificial intelligence (AI) is poised as a central catalyst for this expansion. Nasscom’s Annual CXO Survey indicates that 82% of enterprise leaders plan to boost digital spending by over 5% in 2025. With projections suggesting the sector could hit $350 billion by 2026, contributing 10% to India’s GDP, significant initiatives are underway, including a budget allocation of Rs 2,000 crore for AI advancement.
State initiatives are also pivotal, with Telangana reporting IT exports of Rs 2.68 lakh crore ($32.2 billion) and an 11.2% rise in tech employment. Looking ahead, India’s technology industry is set to double its revenue to $500 billion by 2030, driven by escalating global demand and strategic investments. With significant private investment activity, such as Reliance’s data center in Gujarat, the future of the sector appears promising.
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