At a time when global output is estimated to have shrunk by 3.2 per cent, led by the 2020 pandemic, the Indian Technology sector rallied round to grow at 2.3 per cent year-on-year on the back of acceleration in digital transformation and tech adoption said the industry body National Association of Software & Services Companies (NASSCOM) in its Strategic Review 2021 titled, ‘New World: The Future is Virtual’.
The Indian IT industry body said that the sector is all set to clock revenue of $194 billion for FY2021, an increase of 2 per cent from $190 billion in FY2020. Exports are expected to touch $150 billion for FY21.
Despite a difficult start of CY2020, which saw several players pressure on pricing and contracts, the Indian IT services segment is all set to grow 2.7 per cent to $99 billion. Given a strong recovery in the second half of FY21, the industry body stated that on the back of increased digital focus and tech spending the overall deal pipeline is at a robust $15 billion.
“The year 2020 turned out to be a stress test of our resilience. Many analyst