Tech industry revenue to touch USD 254 billion this fiscal: Nasscom

According to Nasscom's annual assessment, the Engineering Research & Development (ER&D) sector alone accounted for 48% of the entire increase in export income in FY24.

Industry association Nasscom stated on Friday that the domestic IT sector's revenue is expected to increase by 3.8% to USD 254 billion this fiscal year.

Despite a 50% drop in tech investment and a 6% drop in tech contracts globally in 2023, a 3.8% gain is predicted.

According to Nasscom, this indicates that the sector generated an extra USD 9.3 billion in income during the fiscal year.

It said that the industry created net 60,000 employment in 2018, bringing the overall headcount to 5.43 million, in spite of claims of significant layoffs.

#betaitsolution #technology #tech #innovation #engineering #business #iphone #technews #science #design #apple #gadgets #electronics #android #software #programming #smartphone #bhfyp #samsung #instagood #coding #computer #pro #instatech #education #security #gadget #instagram #mobile #technologynews #art