Indian Tech Industry: AI, Machine Learning, and Digital Expansion Driving Growth
Transformative Forces in the Indian Tech Industry
The Indian tech industry is set to make significant strides, projected to reach $350 billion in FY25, up from $254 billion in FY24. This growth is largely fueled by the increasing adoption of AI, machine learning, and digital-first strategies across various sectors.
Rise of Global Capability Centres
- Over 70% of companies in sectors like telecom, media, and BFSI are allocating more than 20% of their budgets to technology.
- The growth in technology news highlights a shift in traditional industries, in which tech roles are expanding to support this transition.
Job Market and Salaries
According to a report by TeamLease Digital, the tech talent pool in non-tech sectors is expected to grow at a CAGR of 7.86%.
- A SAP-ABAP consultant can earn starting salaries of around Rs 7.2 lakh per annum, reaching up to Rs 31 lakh with experience.
- In the IT products sector, cloud investments could increase by 25-30% over the next five years, significantly impacting job creation.
With expectations of creating 14 million jobs by 2026, the indian tech industry demonstrates a tremendous potential for economic impact.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.