India’s IT sector surged to $282 billion in revenue in FY25, claims union minister Ashwini Vaishnaw

India’s IT sector hit $282 billion in revenue in FY25, Union Minister for Electronics and Information Technology (MeitY) Ashwini Vaishnaw announced via X (formerly Twitter) while addressing the Nasscom (National Association of Software and Service Companies) Technology & Leadership Forum.

The MeitY minister highlighted that the sector’s employment stood at 5.8 million in FY25, while exports amounted to $224 billion, and 90,000 patents were filed during the same period.

Recently, Nasscom reported that India’s tech sector revenue is expected to grow by 5.1% to $282 billion in FY25 and reach $300 billion in FY26.

The report highlighted an increase in industry hiring, with 126,000 new employees joining the workforce this year, pushing the total headcount to 5.8 million (58 lakh), reflecting a 2.2% YoY growth. “The USA and BFSI have resurfaced as key growth drivers, with APAC, Telecom, Retail, and Healthcare emerging as other major growth markets for the industry.”

It further noted a 10.8% surge in global tech spending, driven by strong hardware and software investments. Meanwhile, IT services remained steady at 4.7%.

The Nasscom report projected that IT exports would surpass the $200 billion milestone, rising 4.6% YoY to hit $224 billion. Meanwhile, the domestic tech sector is racing toward the $60 billion mark, surging 7% YoY to reach $58.2 billion.

The report recommended a set of 4C strategic imperatives for the industry:

Co-create: Personalised growth journeys with customers

Collaborate: Partner with future-ready organisations for long-term symbiotic growth

Converge: Integrate services and products onto scalable, customisable platforms

Catalyse: Leverage tech R&D and skilled talent to build next-gen solutions

The report also projected increased technology spending in FY26. “For technology providers, FY26 is expected to witness greater technology spending, with 77% of respondents in the Nasscom Annual Tech Services CXO Survey 2025 anticipating higher business growth compared to last year. This growth is expected to be driven by expanding foundational digital initiatives, emerging markets, and strategic AI-led demand.”