Indian Tech Sector Set to Surge Towards $300 Billion: Nasscom Report

Nasscom predicts Indian technology sector revenues will increase to USD 282.6 billion in FY25 and potentially reach USD 300 billion by FY26. Despite geopolitical challenges, employment is on the rise with 126,000 jobs added in FY25. The IT sector grows faster than global spending, and sentiment is positive.

The Indian technology sector is poised for significant growth, with revenues expected to increase by 5.1% to USD 282.6 billion in FY25, according to lobby group Nasscom. The sector might reach the USD 300 billion mark by FY26, Nasscom stated on Monday.

Despite facing geopolitical issues and tariffs, the sector is on a promising growth trajectory, explained Nasscom President Rajesh Nambiar. India's tech sector is outpacing global tech services spending growth, driven by strong revenue gains in IT services, business process management, and engineering research.

Adding 126,000 new jobs in FY25, the industry shows resilience and continues to grow in both domestic and export markets. The sentiment remains positive among executives, with discretionary spending set to recover after a challenging period, according to Nasscom surveys.

(With inputs from agencies.)