India’s Tech Sector Poised for Record Growth Amid National Technology Day Celebrations
In a vibrant boost for the Indian economy, the technology sector is set to add 126,000 new jobs in FY25, reaching an unprecedented workforce of 5.8 million. As the nation celebrates National Technology Day, Defence Minister Rajnath Singh lauded the scientific community, recalling the pivotal 1998 Pokhran nuclear tests as a milestone in India’s technological journey.
Despite facing global economic challenges like election-year volatility and rising trade barriers, India’s digital economy thrives. With strong demand from the US and a recovering banking, financial services, and insurance (BFSI) sector, alongside growth in telecommunications, retail, and healthcare, the sector is on an upward trajectory. According to Nasscom’s Technology Sector Strategic Review 2025, the industry is expected to generate $283 billion in revenue for FY25, reflecting a year-on-year increase of 5.1%. Export revenue is anticipated to surpass $200 billion, while domestic revenue is estimated at $60 billion, marking a 7% rise.
Artificial intelligence (AI) emerges as a critical growth driver, with 82% of enterprise leaders indicating plans for increased digital spending. Experts predict that by FY26, the sector could achieve a staggering $350 billion in revenue, contributing 10% to India’s GDP. The government is also establishing measures to accelerate AI adoption, allocating Rs 2,000 crore in the Union Budget for 2025-26.
States play a crucial role in this growth narrative; Telangana, for instance, reported IT exports of Rs 2.68 lakh crore in FY24, with tech employment in Hyderabad growing by 11.2%. Looking ahead, the Indian technology industry is projected to double its revenue to $500 billion by 2030, driven by strategic investments and a vibrant ecosystem of homegrown software firms poised for global expansion.
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