Is the IT industry a booming industry in India ?

Posted by Dhara Parikh October 30, 2023, 6:33 am

Yes, India's IT industry is flourishing. India is actually recognized for having a strong IT sector that is growing yearly. This sector of the economy made for about 7.7% of the national GDP. At the moment, more than 1000 startups and 500 IT companies are expanding quickly.

Despite the Covid-19 epidemic, India has demonstrated positive outcomes when compared to other nations.

The IT trade association NASSCOM announced in the first week of March 2023 that the Indian technology sector is expected to develop at an 8.4% annual rate in FY 2023, reaching a market size of $245 billion. The trajectory of growth: An essential component of India's IT business is the IT staffing industry.

The IT sector has a bright future ahead of it, one that offers numerous companies, workers, and customers new chances. The IT industry encompasses a wide range of industries, including cloud computing, artificial intelligence, hardware manufacturing, software development, cybersecurity, and the Internet of Things.

Many people are employed to work on numerous IT projects in India, including those in the banking, consumer electronics, infrastructure, automotive, and information technology sectors. The information technology sector not only helped the nation's economy grow, but it also improved and streamlined government.