MUMBAI: India’s technology sector is set to emerge as a $300-billion business in the 2025-26 financial year, growing 6% over the previous year, tech industry body Nasscom said. The sector logged 5.1% growth, contributing an additional $13.8 billion in revenue, reaching a total of $282.6 billion in the 2024-25 fiscal year. Nasscom restated the tech sector number to $268.8 billion in the 2023-24 financial year from the $254 billion it called out previously.
India’s tech sector, which has a 7.3% relative share of India’s GDP, has played a significant role in shaping the country’s economy. India’s tech exports are expected to grow 4.6% to $224.4 billion in the 2024-25 financial year compared to $214.4 billion in the year-ago period. The domestic sector grew 7% to $58 billion during the same period.
For the first time, Nasscom highlighted an even distribution in export revenues between MNCs and Indian IT firms, with each contributing $112 billion. “We feel that there is a good balance between what the global companies, MNCs, and what the India-based IT services providers are doing. The fact is that they figured out a way to coexist. I know there was a time when there was always talk about IT GCC versus IT services providers and so on. However, most service providers that I know of have created a GCC practice within them, which means they’re serving the GCCs in some sense. So, that’s a good balance,” said Nasscom president Rajesh Nambiar at the Nasscom Technology & Leadership Forum 2025 here.
India’s tech sector hired 126,000 people in the 2024-25 financial year, taking the total talent base to 5.8 million. Nasscom has restated that it hired 90,000 employees during the year-ago period taking the tally to 5.6 million.. This comes at a time when the large IT firms are seeing a decline in headcount, and much of the net addition last year was on account of GCCs. GCCs continue to dominate the hiring landscape, as Indian IT firms navigate a seismic shift in the tech landscape.
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