Hyper-growth in tech startups in India: Economic Survey

Posted on 27th Feb 2015 05:18 pm by mohit kumar

New Delhi, Feb 27 (IANS) The information technology (IT) and IT-enabled services (ITeS) sector, including Business Process Management (BPM), continued to be one of the largest employers in the country, directly employing nearly 35 lakh people, the Economic Survey revealed here Friday.

"The year witnessed hyper-growth in the technology start-up and software product landscape, India ranking as the fourth largest start-up hub in the world with over 3,100 start-ups in the country. Software products and services revenues for 2015-16 is projected to grow at 12-14 percent," the survey that was tabled by Finance Minister Arun Jaitley said.

The IT and ITeS make up the single largest contributor to India's services exports.

Recognizing the need for greater penetration of IT Services domestically, the survey mentioned that the government's 'Make in India' mission has included IT and BPM among the 25 focus sectors.

The IT industry body NASSCOM estimated the revenue of the IT-BPM industry at $119 billion that grew by 12 percent in 2014-15 with export market alone making up almost $100 billion.

Other news

IND vs AFG: Who has the upper hand India or Afghanistan in T20I? See what the head-to-head statistics say

IND vs AFG Head to Head: Afghanistan is counted among those teams, which have the power to surpri

There were 64 lakh cases of infection in May

The National Population-Based Sero Survey has revealed that 0.73 percent of adults in India were

T20 World Cup: Indian team's concern increased before Super-8, explosive batsman suffered a hand injury, update came out

The world's number one T20 batsman Suryakumar Yadav got injured on Monday. He suffered a hand inj

MPPSC-2019 Result Ban: High Court orders to prepare results from old rules, decision came in 89 pages

Madhya Pradesh High Court has stayed the result of MPPSC-2019. Terming the amended rule 17/2/2020

New Smartphone Launch: Poco's 5G smartphone with great features will enter soon, know the specifications before launch

Smartphone company Poco, which has made its mark in India, is soon going to launch its new 5G sma

Coronavirus in China: 30-40 percent of employees in Japanese firms are Covid positive, huge drop in production

Big news has come to the fore amid the ever-increasing cases of coronavirus. The Japanese Embassy

Madrasa students will be deployed in Hindu temples and Durga Puja pandals, Bangladesh government's order, know why this step was taken?

Violence against Hindus in Bangladesh has not stopped yet. Meanwhile, there is a possibility of v

After 129 years, Cyclone 'Nisarg' falls on Maharashtra, a big threat in the state facing Corona crisis

Maharashtra is facing the threat of a cyclone storm due to the Corona epidemic. The Meteorologica

IND vs ENG: Shardul Thakur gets happy after being called 'Lord' by teammates, know what he said

Indian all-rounder Shardul Thakur was nicknamed Lord by his teammates for his stellar performance

IPL 2025: Hardik, Bumrah out! Surya will captain; This will be MI's probable playing 11 for the match against CSK.

IPL 2025 will start two days later, on March 22. The five-time IPL champion Mumbai Indians will b