Indian IT industry to grow 2.5x to $283 billion in 2024-25

March 26, 2025, 20:50 IST/2 min read

The data reveals that Assam recorded the highest growth in IT exports over the past decade, surging 3,000% from ₹1.35 crore in 2014-15 to ₹42.51 crore in 2023-24.

Indian IT industry to grow 2.5x to $283 billion in 2024-25

Karnataka led IT exports in 2023-24, with STPI-registered units reporting exports worth ₹4.09 lakh crore. Credits: Getty Images

The Indian IT industry is projected to see a two-fold growth reaching $283 billion (₹24.24 lakh crore) in 2024-25, up from ₹9.43 lakh crore in 2023-24, Union Minister of State for Electronics & Information Technology Jitin Prasada informed the Lok Sabha today.

“The Indian IT industry has a leading position globally and has been progressively contributing to the growth of exports and creation of employment opportunities,” a press release by the IT ministry stated.

The data shared by the minister in Lok Sabha on the state-wise export from STPI registered units reveals that Assam recorded the highest growth in IT exports over the past decade, surging 3,000% from ₹1.35 crore in 2014-15 to ₹42.51 crore in 2023-24..

Karnataka led IT exports in 2023-24, with STPI-registered units reporting exports worth ₹4.09 lakh crore. Only Karnataka and Maharashtra surpassed the ₹1 lakh crore export mark during the year.

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However, Sikkim witnessed an 80% decline in IT exports, dropping to ₹7.29 crore in 2023-24. Bihar saw an even steeper fall, with exports plunging 93% from ₹10.63 crore to just ₹74 lakh during the same period.

The government has introduced several initiatives to boost the IT sector, including the establishment of 67 Software Technology Parks of India (STPI) centres and allowing 100% Foreign Direct Investment (FDI). To promote IT growth beyond metros, BPO Promotion Schemes have been launched for small towns and cities. The National Policy on Software Products (NPSP 2019) aims to drive software innovation, while skill development programs are being implemented through 55 NIELIT centres and the FutureSkills PRIME initiative for IT professionals’ re-skilling and up-skilling. To foster a thriving startup ecosystem, the government has rolled out programs like TIDE 2.0 (Technology Incubation and Development of Entrepreneurs), SAMRIDH (Startup Accelerator of MeitY), GENESIS (Gen-Next Support for Innovative Startups), and Domain-Specific Centres of Excellence (CoEs). Additionally, the India AI Mission is set to drive advancements in artificial intelligence, reinforcing India’s position in the global tech landscape.