1、For updated information,please visit www.ibef.orgNovember 2024IT&BPM2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies14Growth Drivers and Opportunities19Key Industry Contacts29Appendix31Table of Contents3Executive summary3.Export and employment growthDirect employment
2、 in the IT services and BPO/ITeSsegment was estimated to reach 5.4 million in FY23 withan addition of 290,000 people.Exports from the Indian IT services industry stood at US$199 billion in FY24.5.Accelerating demand for cloud and digital transformationThis push towards cloud services hasboostedhyper
3、-scaledatacentreinvestments,withglobalinvestmentsestimatedtoexceedUS$200billionannually by 2025.India is expected togain a significant share in the globalmarket,withthecountrysinvestmentexpected to hit US$5 billion annually by2025.1.Large contribution to the Indian economyThe ITindustry accounted fo
4、r 7%ofIndias GDP,as of FY24.Indias IT industry is likely to hit the US$350 billion mark by 2026 and contribute 10%towards the countrys GDP.The IT industry added 2.9 lakh new jobstaking the industrys workforce tally to 5.4million people in FY23.4.Most lucrative sector for investmentsThecomputersoftwa
5、reandhardwaresector in India attracted cumulative foreigndirect investment(FDI)inflows worth US$105.6billionbetweenApril2000-June2024.The sector ranked 2ndin FDI inflowsas per the data released by Departmentfor Promotion of Industry and InternalTrade(DPIIT).Computer software and hardware makeup 15.0
6、%of the cumulative FDI equityinflows.2.Strong growth opportunitiesIndias IT industry is likely to hit the US$350 billion mark by 2026 and contribute 10%towards the countrys gross domestic product(GDP),Infomerics Ratings said in a report.AccordingtoNationalAssociationofSoftwareandServiceCompanies(Nas
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