Tech IndustryThe Indian tech industry has crossed the $200-billion revenue mark, touching $227 billion in revenue during FY22 as reported by Nasscom’s Strategic Review 2022. The growth seems to be the highest that ever since 2011. The industry now aims to touch $350 billion in revenue by FY26, growing at a rate of 11-14%. 

The major catalyst to this forward surge in the tech industry is India’s massive digital infrastructure that drove India’s tech adoption with public digital platforms becoming the bedrock of India’s digital advantage. Propelled by this enhanced domestic demand, the domestic revenue of the technology industry recorded a 1.2X growth over FY19 to reach about $50 billion.

According to the Nasscom report, the Indian tech industry is committed to catalyzing the trillion-dollar digital economy by focusing on talent, technology, collaboration, and innovation. India has also emerged as a global hub for digital talent with over 5 million tech workers, according to the report. The industry recorded nearly 10% estimated growth indirect employees in FY22 with a highest-ever net addition of approximately 450,000 to its employee base. With over 36% of women employees, the Indian tech industry has also become one of the largest private-sector women employers in India with over 1.8 million women in the workforce.

With a massive focus on reskilling and upskilling, the Indian tech industry reskilled approximately 280,000 employees in FY2022, said the IT industry's apex body. India continues to be the third-largest startup hub in the world with over 25,000 tech start-ups and witnessing 42 new unicorns and 11 IPOs in the year 2021.