Valued at roughly $1 trillion, tech services is among the biggest contributors to economic growth globally
India’s technology services industry can achieve $300-350 billion in annual revenue by 2025 if it can exploit the fast-emerging business potential in cloud, artificial intelligence (AI), cybersecurity and other emerging technologies, according to a report by industry body Nasscom and global consulting firm McKinsey issued on Wednesday.
The report said the domestic tech services industry could grow by 2-4% over the next five years as industries worldwide continue to see rapid adoption of digitalization to make a faster recovery from the covid-induced disruptions.
According to the report titled ‘Future of Technology Services – Winning in this decade’, reaching the milestone will need closer collaboration among all stakeholders—private sector, academia and the government.
Source: Mint
