This Article is From Feb 15, 2022

Information Technology Sector Grew 15.5% In 2021-22: NASSCOM

The information technology sector is set to become a $227 billion industry in the current fiscal, registering a 15.5 per cent growth, NASSCOM said

Information Technology Sector Grew 15.5% In 2021-22: NASSCOM

Information technology sector has shown robust growth in current fiscal: NASSCOM chief

Mumbai:

The information technology (IT) sector is set to become a $227 billion industry in the current fiscal, registering a 15.5 per cent growth, industry body NASSCOM said on Tuesday.

This is the highest growth in over a decade and NASSCOM's president Debjani Ghosh described it as a year of resurgence, after the one of resilience in the immediate aftermath of the pandemic.

The IT industry revenues had grown by 2.3 per cent to $194 billion in 2020-21. In its yearly strategic review for 2021-22, NASSCOM said the industry added 4.5 lakh new jobs to take the overall direct employees to 50 lakh people.

Over 44 per cent of the new hires were women, and their overall share is now 18 lakh. Export revenues grew 17.2 per cent to $178 billion, while the domestic revenues grew 10 per cent to $49 billion, it said. 

New age digital services share grew 25 per cent to $13 billion and India has a strong workforce geared for technologies of the future, Ms Ghosh said.

NASSCOM, which has ceased to give a growth projection for the future, said that a chief executives' survey pointed to another growth year. Over 70 per cent of those polled said they will be able to maintain growth in 2022 as well.

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