over two decades, India has been preferred for IT outsourcing by many western countries. Businesses across the globe have been putting their faith in Indian It outsourcing for their IT needs. If you’re searching for a guide on the Indian IT outsourcing market: recent updates, then you’re at the right page. On this page, you’ll get the relevant information as well as a recent update on the Indian IT outsourcing market.
Indian IT Outsourcing Market Size
The Indian IT outsourcing market continues to grow at a higher pace as compared to other countries’ IT outsourcing markets. India is the leading IT outsourcing destination across the world and the Indian IT industry revenue was estimated US$ 93 billion in 2021 and further increased to US $98.5 billion in 2022.
The Indian software industry is expected to reach US $ 100 billion by 2025. Companies in India are focusing to invest internationally to expand their global footprint and enhance their global delivery centre. In February 2021, Tata Consultancy Services announced plans to recruit 1500 technical employees across the UK over the next year. These companies are well aware of the pros and cons of IT outsourcing in India. Below, we’ve mentioned the recent updates in the Indian IT outsourcing market if you’re looking for the Indian IT outsourcing market: recent updates.
Major Recent Updates In Indian IT Outsourcing Market
Leading Indian IT companies like Infosys, Wipro, TCS, and Tech Mahindra are diversifying their offering and showcasing leading ideas in blockchain and artificial intelligence to clients using innovation hubs and research centres to create differentiated offerings.
Here’s, we’ve provided the Indian IT outsourcing market: recent updates.
- The global engineering, product development and digital services company Tata Technologies on Monday said that they will hire over 3,000 innovators over the next 12 months under its expanded talent acquisition programme. The company plans to increase their workforce in all Indian and global markets.
- India’s largest software exporter, Tata Consultancy Services (TCS) intended to hire 34,000 employees by March 2022 but it has completed that target by December itself and it is one of the best Indian IT outsourcing companies.
- After announcing a profit of Rs 5,809 crore for the third quarter, Infosys, India’s second-largest IT company said on Wednesday that they are planning to hire 55000 freshers for its global graduate hiring program.
- In 2022, Accenture is planning to hire 3 lakh employees in India. The company works at a higher level of hiring and has opened approximately 30,000 job roles in India.
- Wipro has collaborated with TEOCO to build a solution for communication service providers to improve network automation, efficiency, flexibility, and reliability.
- the latest study by Korn Ferry is suggesting that India will be the new tech leader by 2030 and the world would face a tech talent crunch, India is expected to lead with over 1 million skilled tech workers.
- Over 40% of the Indian workforce is expected to improve their skills and become better in the development process by 2022.
- In 2022, India ranked first in the list of countries with the highest ISO-9000 certified software companies.
- By 2023, India is expected to overtake the United States and will become home to the most software developers in the world.
- As per the Indian government report, with the “Skill India Mission”, 40 crores Indians will enhance their skills by the year 2022. The Union Minister of State for Electronics and Information Technology, Mr Rajeev Chandrashekhar, announced that the IT export target is set at US $ 400 billion for March 2022.
Why Do Businesses Prefer Indian Market For IT Outsourcing?
India has been on the top of the list for IT outsourcing for many companies. Currently, the covid-19 changed the landscape of the Indian IT Outsourcing market. Here’s the reason why businesses prefer the Indian market for IT outsourcing.
- IT outsourcing in the Indian market lowers the development cost.
- Companies in the US, Australia, and many more countries can leverage the different time zones.
- To find the best talent across the world.
- Help to reduce the communication barrier from development. This is the best reason for the Indian IT outsourcing market: recent updates.
- To develop products with the latest technologies.
Read More: Top 5 outsourcing technologies that can change the future of India.
Wapping Up
IT outsourcing was totally changed after the pandemic. But most businesses are scaling and speeding up their digital innovation. Thus, the Indian IT outsourcing market sees a rise in revenue. If you’re planning to outsource your IT operations, India is the best destination to do so.
We’ve provided the Indian IT outsourcing market: recent updates and other relevant information. Hopefully, you’ll find this page useful.
