The National Association of Software & Services Companies (Nasscom) has projected a 2.3 per cent revenue growth in FY21 for the country’s information technology industry despite the pandemic. Nasscom has pegged the Indian IT industry’s revenue during the current financial year at $194 billion, up from $190 billion in FY20. Compared to previous years when the industry registered a growth of 6 to 7 per cent, the current numbers are subdued. Although several players faced pricing pressure as the global economy contracted, the Indian IT services segment is set to grow 2.7 per cent to $99 billion, according to the latest numbers. Growth was driven by the e-commerce sector that grew 4.8 per cent to $57 billion, followed by a 4.1 per cent growth in the hardware segment that touched a revenue of $16 billion on a year-on-year basis. Exports are expected to touch $150 billion for FY21.
Indian tech industry to add 1.38 lakh jobs in FY20-FY21
The fast-paced growth that India s technology industry has been witnessing in the last few quarters is here to stay, as a majority of CEOs surveyed by industry body Nasscom expect to see significantly higher growth and hiring than 2020 as more companies adopt technology to grow their business in the post pandemic world. As part of its annual strategic report shared on February 15, Nasscom also said the size of the technology industry is estimated to grow 2.3 percent to $194 billion for the year ending March 2021, compared to $190 billion last year. Exports stood at an estimated $150 billion from $147 billion last year. The industry grew 7.7 percent in FY20. Indian tech contributed ~8% relative share to the national GDP, with 52% relative share in services exports, and 50% share in total FDI (Based on FDI inflows for the period April to September 2020). The report further said that the Indian tech industry continues to be a net
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Exploring Diverse Talent to Fill Tech and Cybersecurity Jobs
Women in IT panel talks potential benefits of taking more proactive, inclusive approaches to fill the ranks of tech teams.
During this week’s Women in IT Summit Series, a panel of experts discussed “Jumping the Big Tech Hurdles,” focusing on challenges companies face that include increasing demand for accessibility, diverse hiring in tech, and cybersecurity.
Nasheen Liu, partner and senior vice president of CIO program strategy with The IT Media Group, moderated the session, which laid out trends and practices that might improve organizations. The panel included Cara Antoine, chapter ambassador for the Dutch Chapter of Women in Tech Netherlands; Kurt John, chief cybersecurity officer for Siemens; Catherine Sherwin, a managing director with AlixPartners; and Justin Arbuckle, global chief technology officer for wealth and personal banking technology at HSBC.