The Indian IT industry is expected to grow to $350 billion by 2025, from the present $191 billion, riding on increased growth in digital initiatives and higher spends by global Fortune 500 clients.
Separately, Nasscom has joined hands the Maharashtra government to launch a 50,000 sq ft startup warehouse in Andheri, Nasscom Chairman Keshav Murugesh said in his keynote address, but did not elaborate.
“We are preparing for a great digitally-enabled future where every model will be transformed, and the old will give way to the new. We are confident the current $185 billion-industry will grow to $350 billion, if not more, by 2025,” Murugesh said.
Foreseeing this, Nasscom had taken a lot of initiatives last year including ‘Future Skills’ programme or driving digital at scale.
“We expect 4 million technology employees to benefit from this programme. FutureSkills Prime has also been funded by the Government of India will import 4 lakh people,” Murugesh, who is also the Group CEO at WNS Global Services, said.
Jointly with state governments, Nasscom is also creating Centres of Excellence across key areas such as Big Data, Analytics, Artificial Intelligence, Machine Learning and cyber security, he added.
The IT industry’s apex body is also involved with policy advocacy to enable policies to support the industry and the start-up movement.
“What is amazing to all of us is that all of this which we thought were futuristic are already available today, and are changing the way people consume, governments think and how public and private investments are likely to be made,” he added.
Global initiatives such as driver-less vehicles, drone- and sonar-based technologies for agriculture and other technologies would be beneficial for India.
“All of this augur well for India, which has the potential to continue to transform the globe’s appetite for technology, digital thinking and smart innovations,” he added.