India’s IT sector set for $350Bn growth by 2030
NEW DELHI, INDIA — Industry leaders are expecting India’s IT industry to reach $350 billion by 2030, with employment also expected to double as the sector continues expanding.
Currently valued at around $245 billion, Indian IT grew nine percent in 2022 despite macroeconomic headwinds. The industry already employs over five million people after doubling jobs in the last 10 years.
During the Bengaluru Tech Summit, Infosys Co-founder Kris Gopalakrishnan said that the sector’s growth is possible given its strong fundamentals.
“This is a high-growth industry, and has continuously grown every year over the last several years,” he added.
Meanwhile, Wipro Chairman Rishad Premji highlights India’s vast talent pool as a key driver, with the country producing more engineers than the United States and China combined.
“We also have an upturn of a long-term technology investment cycle driven by the advancements in new technologies like AI – especially Gen AI, 5G, Industry Cloud, and sustainable technology.”
While promising, realizing this potential requires strategic investments in infrastructure and skills development.
Premji advocates for “continual investment in top-notch infrastructure, skill enhancement, and education” to sustain growth.
Overall, India’s IT industry exhibits strong momentum. The experts believe that with the right collaboration between government and industry, the sector is poised for exponential expansion and job creation in the coming decade.
