India’s information technology industry is projected to reach $227 billion in revenue in FY22 as per the Nasscom Strategic Review Report 2022. It is 15 percent higher than FY21’s projections. The growth is the highest since 2011.
The IT sector has shown two-fold growth in revenues from its FY-19 (pre-COVID) numbers. The increase in demand for digital streams is main driving force behind the rising projections in revenue. It has contributed approximately 30 to 32 percent of the anticipated revenue. The recorded increment in the revenues for digital streams reached $13 billion.
More than 66 percent IT sector deals in FY22 were digital. This year, there were over 290 mergers and acquisitions (M&As), with a primary focus on the expansion of digital offerings. Ecommerce industry grew by 39%, to generate $79 billion in revenue in 2021-22.
