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HR Infotech Association (HRIA) is a leading association of HR professionals dedicated to the IT & ITES industry. Established in 1995, we were formally organised as an association in 2002-03 and later registered as a trust in 2010-2011. As a premier institution, we are committed to advancing HR practices within the Indian IT / ITES sector.

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IT / ITES INDUSTRY IN INDIA


As of 2023, the IT/ITES industry in India continues to be a cornerstone of the country's economy, contributing significantly to GDP, employment, and exports. Here are some recent updates and trends shaping the sector:

  1. Growth and Revenue

    2. • The Indian IT industry is projected to reach $350 billion in revenue by 2026, driven by digital transformation, cloud adoption, and increased global demand for IT services.

  2. Focus on Digital Transformation

    3. • Companies are increasingly investing in artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), and blockchain technologies to meet client demands.

  3. Expansion of Global Capability Centers (GCCs)

    4. • India has become a hub for Global Capability Centers (GCCs), with over 1,600 GCCs operating in the country as of 2023.
    • These centres are expanding beyond traditional IT services to include R&D, analytics, and innovation-driven roles.

  4. Increased Hiring and Workforce Trends

    5. • The IT/ITES sector remains one of the largest employers in India, with over 5.4 million professionals employed as of 2023.
    • However, the industry has seen a shift in hiring patterns, with a focus on upskilling and reskilling employees to meet the demands of emerging technologies.

  5. Challenges

    6. • The industry is facing challenges such as attrition rates, which peaked in 2022 but are now stabilizing due to improved employee engagement and retention strategies.

  6. Government Initiatives

    7. • The Indian government continues to support the IT/ITES sector through initiatives like Digital India, Make in India, and Production Linked Incentive (PLI) schemes for hardware manufacturing.

  7. Emerging Technologies

    8. • Generative AI (e.g., ChatGPT, Bard) is gaining traction, with IT firms integrating AI-driven solutions into their service offerings.

  8. Sustainability and ESG

    9. • IT companies are increasingly focusing on Environmental, Social, and Governance (ESG) goals, with many committing to net-zero emissions and sustainable practices.

  9. Startups and Innovation

    10. • India's tech startup ecosystem is thriving, with over 100 unicorns as of 2023. Startups in fintech, edtech, healthtech, and SaaS are driving innovation and collaboration with established IT firms.

In summary, the Indian IT/ITES industry is evolving rapidly, leveraging technology and innovation to maintain its global leadership. While challenges persist, the sector remains resilient and adaptive, poised for sustained growth in the coming years.

References:

  1. Industry Reports
    • NASSCOM Strategic Review 2023
    • EY India IT/ITES Report 2023
    • Deloitte Technology, Media, and Telecommunications (TMT) Predictions 2023
  2. Government Initiatives
    • Digital India Programme
    • Ministry of Electronics and Information Technology - (MEIT)
  3. Global Capability Centers (GCCs)
    • CBRE India GCC Report 2023
    • NASSCOM GCC Landscape Report
  4. Workforce and Hiring Trends
    • NASSCOM Workforce Report 2023
    • Aon India Salary Increase Survey 2023
  5. Startups and Innovation
    • Indian Tech Startup Ecosystem Report 2023 by Inc42
    • NASSCOM Startup Report 2023
  6. Geopolitical Impact
    • IMF World Economic Outlook 2023
    • Forbes Article on US-China Trade Tensions and India's IT Sector

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