Revenue of IT and BPM industry in India FY 2016-2024

The total revenue generated by the IT and BPM industry in India reached 245 billion U.S. dollars in 2023. The general upward trend during the presented period was mainly generated by the massive wave of outsourcing from foreign companies. 

The domestic market

The IT-BPM sector contributed a share of over seven percent to India’s GDP in fiscal year 2022. Exports from the sector also increased gradually over the years. As of financial year 2023, Tata Consultancy Services was the largest IT services company in India, with a market capitalization of 12.7 trillion Indian rupees. At the same time, the sector had an export value which was more than thrice the export value of software products and engineering services.

Fueling the job market

The South Asian country Is the largest process management destination worldwide. With the potential to harness new technologies, the industry can generate huge employment and revenue opportunities. Being the largest organized sector for job creation, the sector was estimated to contribute a share of about ten percent to the GDP by 2025.