How to avoid becoming a tech billionaire in the Indian IT industry
A startup’s success depends on a large network of people, which in turn depends on an excellent infrastructure and a large amount of time, according to an expert.
According to a report by the Information Technology & Communications Technology (IT&C) Association (ITAT), the IT industry in India is “still in its infancy”.
It predicts that by 2021, IT firms will generate more than $50 billion (Rs 1,000 crore) in revenues, up from $15 billion (R732 crore) last year.
In its latest annual report on IT &C, the IT & C Association said that by 2022, India’s IT industry will generate around $30 billion in revenues and around 2,500 IT companies will be operational.
This will bring in $10 billion of revenue for the country.
India has a population of about 11.5 million.
According to IT &c, it is the fourth largest country in the world with an estimated population of 18.6 million people.
The IT industry employs around 50,000 people, making it the fourth biggest in the country with over half of them in the service sector.
In the first quarter of 2021, the industry generated $7 billion in revenue, an increase of about $2 billion over the same period last year, according TOI.
The IT & c’s report says that India has a total of about 1.1 billion people, an estimated workforce of around 7.4 million.
In the IT sector, India has emerged as one of the largest emerging markets, according the IT&c report.
In terms of gross domestic product (GDP), India has the fourth-largest economy, with an annual growth rate of 5.2%.
India’s IT sector is expected to become a $1 trillion industry by 2022.
The industry employs more than 2.5 lakh people, including some in the technology and engineering sector, which employs more people than any other sector.
It has a large workforce of engineers, analysts, designers, developers and managers.
The sector employs about 40% of India’s total workforce.
According TOI, the sector’s growth is driven by a combination of strong investments by private and government sector and strong infrastructure.
India is expected over the next decade to have more than one billion workers.
According the report, the biggest beneficiaries of the IT boom are the IT firms themselves.
The report says the industry has grown from just around $1 billion in 2011 to $15.2 billion in 2021.
By 2022, the number of companies with assets worth more than a million rupees (Rs 6,500) will increase from about 40 to more than 160,000.