Led by MSMEs, the IT sector aims for a $450 billion services export target next fiscal year under Commerce Minister Piyush Goyal’s leadership. He highlights the pivotal role of IT and IT-enabled services in India’s economic growth, noting last year’s $340 billion services exports, with IT and ITES contributing $200 billion. Projections for this year suggest exports between $380 billion and $385 billion, strengthening India’s global position.
Speaking at the ‘Global Confluence 2025’ by Nasscom, the minister stressed the need for innovation and adaptability to maintain India’s competitive edge. He expressed confidence in India’s IT sector and MSMEs driving economic transformation in Amrit Kaal towards a developed Viksit Bharat. The minister commended Nasscom for promoting continuous learning and embracing new technologies like quantum computing, artificial intelligence, and machine learning to stay ahead in the IT sector.
The minister emphasized attracting global capability centers (GCCs) to India to utilize the vast talent pool and boost the economy. By encouraging businesses to stay in India, he highlighted the potential to increase foreign exchange earnings and support domestic growth. Goyal also discussed the benefits of IT-led growth, such as higher demand for real estate and infrastructure, contributing to a positive economic cycle.
Goyal emphasized Nasscom’s crucial role in upskilling IT professionals for relevance in today’s evolving industries. The Union Minister reaffirmed the government’s dedication to enhancing global partnerships via FTAs and bilateral engagements, noting India’s desired presence in various global markets.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
Leave a Reply