India’s Techies are Leaving IT Firms in Hordes — Here’s Why

 

Original Content: Business Upside India

The Information Technology industry of India is mainly comprised of two main sectors as Business Process Outsourcing (BPO) and IT services. 8% of the total GDP of India was contributed by the IT industry in 2020.

IT Industry Market Performance and Industry Employment in India

In the last year, the market size of the IT industry in the Indian market was reached approximately 175 billion dollars. The IT industry export market of India was five times bigger compared to the size of the domestic market. The United States is one of the biggest importers for the IT industry of India. Additionally, it also has been observed that considering the current market situation due to the pandemic, the growth trend regarding the export market of the IT industry is higher compared to the IT domestic market in India. It shows that the IT industry of India is highly dependent on the export market and the opportunities for the domestic market are quite less. It can be said that the IT industry of India has been witnessing quite steady growth and development in the context of expanding business overseas and sustaining more market share profit. However, in the context of the development of the domestic market of the IT industry in India, it can be said that it is quite slow.

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