IT industry in India
Information Technology in India is a comprehensive industry. It is observed that the IT industry has accounted for 8% of India’s GDP in 2020.
The 21st century is earmarked as Information Technology-driven and India is at the Centre of global attraction and is considered as a knowledge powerhouse.
The IT industry covers IT-enabled services, e-commerce, Software, and Hardware products. In today’s competitive world, IT-based services are essential for any organization to boost productivity, flexible business opportunities, and grow efficiently and economically.
Growth of IT industry in India
India is emerging into a digital economy, with over 750 million internet subscribers; it is the second-largest after China. IT industry plays an important role in expanding export services to $1 tn in 2021
At the time of the COVID19 pandemic, the IT industry in the Indian sector was the fastest to adapt to remote work culture. In the Indian IT services industry, the hiring intent came with the benefits of working from home for more than 2 mn IT professionals working remotely
India is the hub for “Digital Skills”. In India, IT industry employs the most people in the private sector. Every job created in the technology industry had a multiplier impact, resulting in the creation of 2.5 indirect jobs in related industries.
Key drivers for the growth of IT industry in India
Highlights of Union Budget 2022
The Union Budget has highlighted the significance of technology in all focus sectors such as infrastructure, inclusive development, sustainability, sunrise industries, and skilling.
Source- business today.in
The government has recognized the importance of analytics, IoT, machine learning, artificial intelligence and has allocated Rs. 8000 crore to set up a national mission on quantum computing and technology.
The government has taken some initiatives like Digital economy, digital health, e-passport, digital currency.
Skilling programs will be reoriented. For skilling, upskilling and reskilling of youth, Digital DESH e-portal will be launched.
The National Skill Qualification Framework will be linked with the changing demands of the sector. A digital ecosystem will be introduced for skilling and livelihood. This allows residents to skill, reskill, and upskill to discover appropriate jobs and entrepreneurial opportunities.
How can Valuqo Capital help?
Valuqo Capital serves the following segments in the IT Sphere: –
We have been delivering value-added services at various levels in the above segments and have developed a working knowledge base for the same.
To know more about how we can assist you contact:- [email protected]
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