India IT Services Market Report 2017

India IT Services Market Report 2017

  • March 2017 •
  • 106 pages •
  • Report ID: 4897283 •
  • Format: PDF
India was the fastest growing major economy in 2016 mainly due to political stability in the country. The IT industry has emerged as one of the most dynamic sectors in India’s economy and is responsible for the global recognition of India as a ‘soft’ power. Many of the Fortune 500 and Global 2000 corporations are sourcing information technology/information technology enabled services (IT-ITES) from India. Indian IT companies have set up over 600 delivery centers across the world and are engaged in providing services in over 200 cities across 78 countries.

India’s information technology services market is expected to grow from around $17 billion in 2016 to around $28 billion in 2020. Indian IT related establishments have attracted significant foreign investment from major countries. The computer software and hardware sector in India attracted a cumulative FDI inflow worth $21 billion between April 2000 and March 2016, according to the Department of Industrial Policy and Promotion (DIPP).

Internet penetration is growing at a rapid pace in India. The number of internet users grew by around 52% during 2015-2016. The country had internet penetration of around 27% in 2015 which grew to nearly 35% in 2016. The internet subscriber base stands at about 340 million as of March 2016. Broadband subscribers too grew rapidly at a CAGR of 56% during 2014-2016. As of March 2016, the broadband subscription base was about 150 million. Rapid penetration of smartphones has significantly increased the number of mobile internet users. In January 2016 the mobile connection subscription base was more than 1 billion. Active social media were approximately 135 million in January 2016.

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