The IT-BPM (Business Process Management) sector in India which is 3-4 times higher than the global IT-BPM spend, is estimated to expand at a CAGR of 9.5 per cent to US$ 300 billion by 2020.With about 3,000 tech start-ups, and the number to reach 11,500 by 2020 India is in for a booming future for the IT industry , as per a report by Nasscom .
India's internet economy is expected to touch Rs 10 trillion (US$ 161.26 billion) by 2018, accounting for 5 per cent of the country's gross domestic product (GDP).
According to a report by the Boston Consulting Group (BCG) and Internet and Mobile Association of India (IAMAI). In December 2014, India's internet user base reached 300 million, the third largest in the world, while the number of social media users and smart-phones grew to 100 million.Public cloud services revenue in India is expected to reach US$ 838 million in 2015, growing by 33 per cent year-on-year, as per a report by Gartner Inc.
Also the public cloud market alone in the country is estimated to treble to US$ 1.9 billion by 2018 from US$ 638 million in 2014.Export of IT services has been the major contributor, accounting for 57.9 per cent of total IT exports from India. BPM accounted for 23.5 per cent of total IT exports during FY14. The Government of India has extended tax holidays to the IT sector for software technology parks of India (STPI) and special economic zones (SEZs) to boost the growth of the Indian IT industry.