A recent survey found that 95 per cent of CEOs in the IT sector expect better recruitment in 2021 than last year. More than 67 per cent of CEOs believe that the sector is expected to perform well in FY 2021 as compared to FY 20. NASSCOM expects information services sector revenue to grow by 2.3 per cent in FY20-21. It is estimated that the revenue of IT companies will reach 194 194 billion in 2021, compared to 190 190 billion in FY20. In the second half of the financial year 2020-21, the predictions of the experts of the top Indian IT companies are much better.
The technique was adopted by companies
This growth is due to the digital transformation and the speed with which the technique has been adopted by companies in the epidemic year.
In its strategic review of exports to the IT industry in 2021, it said that aging in the digital sector has contributed a great deal to the alignment in digital transformation and digital studies. Digital spending has contributed 28-30 per cent to Revant in the IT industries.
The growth in IT revenue came mainly from e-commerce
Despite the epidemic of Covid 19 throughout the year, the sector contributed 8% to the national GDP, 52% to the service, and 50% to the total foreign direct investment from April to September 2020. The growth in IT revenue was mainly from e-commerce. Which rose 4.8 percent to 57 billion. The hardware segment then grew 4.1 percent, raising 16 billion in revenue.
Man Power had net recruiters
IT companies were also net recruiters of manpower, to the extent that employees of other companies in the sector are kept in the score. The sector is expected to add 138,000 new employees in FY21. These industries are expected to provide 4.47 million jobs by the end of FY21.