India’s IT Industry Grows Rapidly, Set to Hit $283 Billion in 2024-25

27 Mar 2025 CW Team

To support the industry's development, the government has implemented several initiatives across the country. These include the establishment of 67 Software Technology Parks of India (STPI) centres and the approval of 100 per cent Foreign Direct Investment (FDI) in the sector. Efforts to promote IT services in smaller towns and cities have been strengthened through the BPO Promotion Schemes. Additionally, the National Policy on Software Products (NPSP 2019) was introduced to drive software product innovation and growth.

Skill development programs have been a key focus, with training provided through 55 National Institute of Electronics & Information Technology (NIELIT) centers and initiatives like FutureSkills PRIME for reskilling and upskilling IT professionals. The government has also promoted the startup ecosystem through various schemes, including the Technology Incubation and Development of Entrepreneurs (TIDE 2.0), Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH), and Gen-Next Support for Innovative Startups (GENESIS). Other measures such as Domain-Specific Centers of Excellence (CoEs) and the India AI Mission aim to foster technological advancements and innovation.

These government-led initiatives have been instrumental in driving the expansion of the IT sector. State-wise export details of STPI-registered units, including those from Telangana, have been documented as part of this ongoing growth assessment.

News source: PIB

The Indian IT industry holds a prominent position globally and has significantly contributed to export growth and employment generation. Over the past decade, the sector has expanded substantially, as reported by the National Association of Software and Services Companies (NASSCOM). To support the industry's development, the government has implemented several initiatives across the country. These include the establishment of 67 Software Technology Parks of India (STPI) centres and the approval of 100 per cent Foreign Direct Investment (FDI) in the sector. Efforts to promote IT services in smaller towns and cities have been strengthened through the BPO Promotion Schemes. Additionally, the National Policy on Software Products (NPSP 2019) was introduced to drive software product innovation and growth. Skill development programs have been a key focus, with training provided through 55 National Institute of Electronics & Information Technology (NIELIT) centers and initiatives like FutureSkills PRIME for reskilling and upskilling IT professionals. The government has also promoted the startup ecosystem through various schemes, including the Technology Incubation and Development of Entrepreneurs (TIDE 2.0), Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH), and Gen-Next Support for Innovative Startups (GENESIS). Other measures such as Domain-Specific Centers of Excellence (CoEs) and the India AI Mission aim to foster technological advancements and innovation. These government-led initiatives have been instrumental in driving the expansion of the IT sector. State-wise export details of STPI-registered units, including those from Telangana, have been documented as part of this ongoing growth assessment. News source: PIB

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