Hindiston Iqtisodiyoti

IT & ITeS Industry in India

IT & ITeS Industry in India

• The global sourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. India is the leading sourcing destination across the world, accounting for approximately 55 per cent market share of the US$ 185-190 billion global services sourcing business in 2022.
• Indian IT & ITeS companies have set up over 1,000 global delivery centers in about 80 countries across the world.
• Total export revenue of the industry is expected to grow 8.3 per cent year-on-year to US$ 136 billion in FY19.
• UK-based tech consultancy firm, Contino, has been acquired by Cognizant.

MEDIA AND ENTERTAINMENT

• The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making high growth strides
• The Indian advertising industry is projected to be the second fastest growing advertising market in Asia after China. At present, advertising revenue accounts for around 0.38 per cent of India’s gross domestic product. By 2021, Indian media and entertainment industry to reach Rs 2.35 trillion.

METALS AND MINING

• India produces 95 minerals– 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals and 55 minor minerals (including building and other minerals).
• India is the third largest producer of coal

PHARMACEUTICALS

• India is the largest provider of generic drugs globally. Indian pharmaceutical sector industry supplies over 50 per cent of global demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all medicine in UK.
• India’s pharmaceutical exports stood at US$ 17.27 billion in FY20 and have reached US$ 19.14 billion in FY22. 

TEXTILES

• India’s textiles sector is one of the oldest industries in Indian economy dating back several centuries. India's overall textile exports during FY 2017-18 stood at US$ 39.2 billion in FY18 and is expected to increase to US$ 82.00 billion by 2021

TOURISM AND HOSPITALITY

• The World Travel and Tourism Council calculated that tourism generated ₹16.91 lakh crore (US$240 billion) or 9.2% of India's GDP in 2020 and supported 42.673 million jobs, 8.1% of its total employment
• India's medical tourism sector was estimated to be worth US$3 billion, and it is projected to grow to US$7–8 billion by 2022.