MUMBAI, Feb 24: The IT industry association Nasscom has projected that the sector’s revenues for FY25 will increase by 5.1 percent, reaching USD 282.6 billion.
According to Nasscom President Rajesh Nambiar, the industry is expected to surpass USD 300 billion in revenues in FY26, which would represent a 6 percent increase from FY25 figures. He shared these insights at the Nasscom Technology Leadership Forum.
“This is a positive outcome given the current circumstances,” Nambiar stated while discussing the business performance expected in FY25.
The tech sector’s employment is anticipated to rise by 126,000 jobs, reaching a total of 5.8 million employees throughout the year, as per Nasscom’s forecasts.
Traditional IT service firms are expected to see their FY25 revenues grow by 4.3 percent, amounting to USD 137.1 billion, while business process outsourcing revenues are projected to increase by 4.7 percent to USD 54.6 billion.
Engineering research and development companies are expected to lead with a revenue growth rate of 7 percent, totaling USD 55.6 billion.
Domestic revenue for companies is set to grow by 7 percent to USD 58.2 billion, outpacing export revenue growth, which is expected to rise by 4.6 percent to USD 224.4 billion.
Nambiar mentioned that from a revenue distribution standpoint, exports are evenly divided between global multinationals and India-based companies. (PTI)
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