How important is the IT industry in Indian economy?
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The sector has increased its contribution to India's GDP from 1.2% in 1998 to 7.7% in 2017. According to NASSCOM, the sector aggregated revenues of US$180 billion in 2019, with export revenue standing at US$99 billion and domestic revenue at US$48 billion, growing by over 13%.
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- ɪᴛ ʜᴀs ᴘʀᴏᴠɪᴅᴇᴅ ᴇᴍᴘʟᴏʏᴍᴇɴᴛ ᴛᴏ ᴏᴠᴇʀ ᴏɴᴇ ᴍɪʟʟɪᴏɴ ᴘᴇᴏᴘʟᴇ. ᴛʜɪs ɪɴᴅᴜsᴛʀʏ ɪs sᴀɪᴅ ᴛᴏ ʙᴇ ᴍᴀᴊᴏʀ ғᴏʀᴇɪɢɴ ᴇxᴄʜᴀɴɢᴇ ᴇᴀʀɴᴇʀ. ɪᴛ ʜᴀs ʜᴇʟᴘᴇᴅ ɪɴ ᴛʜᴇ ɢʀᴏᴡᴛʜ ᴏғ ᴛʜᴇ sᴇʀᴠɪᴄᴇ sᴇᴄᴛᴏʀ.
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