In the current financial year (2020–21), domestic IT industries revenues are expected to grow by 2.3 per cent to $ 194 billion. Exports are also expected to grow 1.9 percent to $ 150 billion. Nasscom, a consortium of domestic IT companies, has made estimates to this extent.
Despite the negative effects of the Corona virus around the world, IT companies have also made net appointments this financial year. With the creation of 1.38 lakh new jobs, the total number of employees has reached 44.7 lakh in IT Industries. ‘The domestic industry has emerged even more solidly from the corona crisis.
Devyani Ghosh, President, Nasscom, said: Ghosh explained that contracts valued at up to $ 15 billion are likely to be reached, according to figures released by listed companies. International giants are expected to increase spending on technology by 2021, according to a survey by CEOs.
Prime Minister’s speech at the Nasscom conference:
Prime Minister Narendra Modi will address the 29th Nasscom Technology and Leadership Forum (NTLF) conference on Wednesday via video conferencing. Nasscom is focusing on the steps to be taken in the future to get out of the corona epidemic and return to normalcy. The conference will take place from February 17 to 19.
According to an article in the Times of India, India’s liberalization was possible due to its IT industry. In the 1990s, the industry started off with an export of nearly $100 million with around 5,000 employees. Now it is an industry that thrives globally and India’s IT exports are now around $70 billion with 2.8 million employees working in this sector. The article states that the IT sector is one of the top two industries in the country today.