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Daily News Analysis » May 2024 » IT/ITeS policy revamp to push sector’s GDP share, exports : 30 May 2024

IT/ITeS policy revamp to push sector’s GDP share, exports : 30 May 2024

The Centre has initiated discussions with the private sector to revamp its decade-old national information technology policy with the aim of boosting the IT sector's contribution to India's GDP.

Table of Content

About proposed National Information Technology Policy, 2024:                                   

  • Goals and Targets:
  • Exports Growth: Aim to expand software exports from $200 billion to $400 billion by 2030.
  • Revenue Growth: Increase total software industry revenues from $254 billion to $500 billion by 2030.
  • Employment Generation: Create direct and indirect employment opportunities for 10 million people.            
  • Global Capability Centres (GCCs): Plan to double the number of GCCs in India from 1,600 to 3,200 by 2030.                     
  • Collaborative Effort: IT Ministry and Industry Bodies & Private Sector.                          
  • Current IT Sector Statistics:
  • Employment: The IT sector employs 5.43 million professionals, including a 36% share of women employees.
  • Revenue Estimates for FY24: Projected to reach $254 billion, with $200 billion from exports and $54 billion from the domestic tech sector.

Why in the News?

  • The Centre has initiated discussions with the private sector to revamp its decade-old national information technology policy with the aim of boosting the IT sector’s contribution to India’s GDP.