Tale of contrasts in tech growth, Nasscom count
The performance of India's technology companies seems to be at variance with the latest count by the industry's apex body. On Monday, Nasscom said the IT industry should end with $283 billion in revenue in FY25, which would mean a 5.1% growth from the year-ago period. These revised numbers imply that in March 2024, the IT industry grew from $244.6 billion a year earlier to $268.8 billion-- a steep 9.9% growth -- and added 300,000 people. Put simply, Nasscom estimates that India’s IT industry services will grow slower in the current fiscal year than last year. The Big Five The IT industry's Big Five -- Tata Consultancy Services Ltd, Infosys Ltd, HCL Technologies Ltd, Wipro Ltd, and Tech Mahindra Ltd -- together had $78.03 billion in revenue last year, or about 30% of Nasscom's revised numbers of $268.8 billion.
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