National Association of Software and Services Companies (NASSCOM) represents and predicts the IT/ITeS industry of India. Hence, the statistics by them help you understand the whole industry at a glance.
The current financial year 2017-2018 had started on a silent note for the IT/ITeS industry. However, it picked up pace in the second half of the year. NASSCOM said that the IT/ITeS companies are expected to clock revenues of USD 167 billion in the year.
The Indian information technology industry expects a marginal growth in exports this year of 7-9 percent in the coming fiscal. This is slightly higher than its expected growth of 7.8 percent in the current financial year. NASSCOM expects to have USD14-16 billion in revenue in the coming year.
However, at the domestic side, the scenario seems better than with the industry body predicting a growth of 10 percent for the current fiscal year. This number could be higher as other global factors such as political uncertainties would not affect in the domestic space.
The new age digital business is expected to grow 1.5-2 times the industry growth. The domestic technology adoption is expected to continue in double-digit growth. Digital was the fastest growing component of IT services revenue, at 30 percent of overall revenue, followed by engineering and research and development at 13 percent and business process management at over 8 percent.
The IT/ITeS sector creates one lakh new jobs during the financial year. The expectation is to add another one lakh new jobs in the next year. The industry body also predicted that technology jobs were coming up more and more in the non-technology sectors.