Summary:
India's IT and IT-enabled services (ITeS) sector has surpassed Rs. 21,56,500 crore (US$ 250 billion) in revenue, with exports contributing Rs. 17,25,200 crore (US$ 200 billion), according to a senior government official on Wednesday. The industry's impressive progress from Rs. 172.52 crore (US$ 20 million) in FY93 was acknowledged by Mr. Arvind Kumar, Director General of Software Technology Parks of India (STPI), at the opening session of Indiasoft 2025 and the India Electronics Expo. For its pivotal role in bolstering exports, he commended the Electronics and Computer Software Export Promotion Council. India's robust tech ecosystem, including 1,58,000 registered start-ups, with 78,000 of them operating within the technology sector, was highlighted by Kumar. The vast reach of the software industry is demonstrated by the Unified Payments Interface (UPI), which processes 18 billion transactions monthly.
India aims to extend its technological leadership across various domains, focusing on emerging sectors like artificial intelligence, quantum computing and semiconductors. Kumar underscored that multiple ministries, in collaboration with STPI, are actively fostering start-ups and nurturing innovation. Inclusive growth is exemplified by the fact that over 50% of start-ups originate from tier-II and tier-III cities, with more than half being led by women. The government's commitment to supporting entrepreneurship and technological progress, solidifying India's stature as a leading global IT hub, was reaffirmed by him.
Source: IBEF
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