IT growth seen higher in FY25, to cross $300 bn in FY26

India's technology sector is expected to grow at a higher pace this fiscal year, driven by engineering research and development and the rising number of global capacity centres (GCC), or low-cost offshore hubs, industry body Nasscom said on Monday.

- Reuters

MUMBAI:

Nasscom expects the industry's revenue will grow 5.1% to $282.6 billion in fiscal 2025, compared with the previous fiscal's 4%, with revenue crossing $300 billion in fiscal 2026.

Software exports, comprising services and sale of products to clients, are expected to grow 4.6% to $224.4 billion in fiscal year 2025, the industry body said.

The sector is expected to add 126,000 jobs on a net basis, taking the total workforce to 5.8 million in fiscal year 2025, it added.