India’s IT-BPM sector up 7.7% in FY20

The National Association of Software and Services Companies (Nasscom) announced that the IT-BPM sector grew by 7.7% year-on-year, garnering a total revenue of US$191bn in FY20. Despite growth rates moderating, Nasscom President Debjani Ghosh said it was a good performance from the sector.

Nasscom said the IT Services sector brought in the highest revenue of US$97bn (growth of 6.7%), followed by e-commerce which stood at US$54bn (growth of 25.6%). The sector generated exports of over US$147bn in revenues in FY2020, growing at 8.1% from the previous year.

The industry body said the sector, which had US$191bn in total revenue, had added 205,000 jobs in FY20, up from the 185,000 at the end of FY19.

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