- The global technology spending on hardware & Information Technology (IT) related services is estimated to be about US $ 1.7 trillion
- The global technology growing at a CAGR of about 71% in the last two years
- The engineering & R&D spendings accounts for about US $ 800 billion.
- Despite current slowdown, technology spending is expected to sustain in the long term and pick up after the next 4 to 6 quarters.
Forecasted size of Indian IT and ITES Industry by 2022
It is expected that the Indian IT and ITES Industry would record about US $ 220 billion in exports and US $ 60 billion domestically by 2022, totalling to about US $ 260 billion growing at a CAGR of 12.8%.
NASSCOM (IT-ITeS Sector Skill Council)
This council has been formed in partnership between NASSCOM and Nation Skill Development Council (NSDC) for the common purpose of workforce development of the IT and ITES industry sectors. The goal of the IT-ITES SSC is to create a sustainable industry ready talent pipeline by scaling quality capacity and to enhance employability at all levels.