India’s IT & ITeS industry grew to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19 while domestic revenues (including hardware) advanced to US$ 44 billion. Revenue from digital segment is expected to comprise 38 per cent of the forecasted US$ 350 billion industry revenue by 2025.

India has been instrumental in sharply shifting the fundamentals of the digital economy away from commodities to technology and value added services. Software exports from India have of late drawn significant attention around the world. Many countries are realising that they could considerably reduce their overall project costs by sourcing software from India, which is capable of providing total solutions in a host of sectors of the economy.

Indian IT firms have built upon their ideas and diversified their offerings in various verticals using innovation hubs, research and development centres spread across the country.

The Government of India has identified Information Technology as one of 12 champion service sectors for which an action plan is being developed.