India preferred partner in global technological ecosystem: Nasscom president Rajesh Nambiar

Know-how is shaping economies extra profoundly than ever earlier than, Nasscom President Rajesh Nambiar stated on Thursday as he outlined India’s strengths as a worldwide expertise hub which positions it as a most well-liked companion within the global technological ecosystem. Nambiar was talking on the IT trade physique’s International Confluence 2025 right here.

“As we speak, the world is in a little bit of an inflection level than ever earlier than. Among the applied sciences are literally enjoying much more affect on the financial fashions that we’re seeing within the nation,” he stated.

Nambiar famous that the world is experiencing a worldwide technological shift, which has created a rising demand for a high-quality expertise base to satisfy the challenges and alternatives of this new panorama.

There is no such thing as a trade or nation that’s rising with out expertise enjoying a number one position. All of them have all the time been pushed by expertise to some extent, he stated.

“A rustic like India continues to be a companion of selection for the worldwide technological ecosystem,” he stated.

The IT trade is projected to shut FY25 with a valuation of roughly USD 283 billion and is predicted to surpass USD 300 billion within the following yr, he said. He additionally acknowledged the digital economy‘s contribution to GDP, which is anticipated to exceed USD 1 trillion by 2030.

India’s unmatched expertise expertise pool stands out as one in all its key aggressive benefits, he remarked. “This trade employs roughly about 5.8 million individuals as of immediately and it continues to develop. We’re 28 per cent of the worldwide STEM expertise market worldwide. 23 per cent of the software program engineering expertise is housed in India,” he identified.

One other level that makes India an vital companion within the broader world tech ecosystem is its thriving startup and innovation ecosystem, Nambiar additional stated.

With over 34,000 expertise startups and three,600 deep tech startups, the nation’s fundamentals are robust, and applied sciences similar to AI and quantum computing are well-established, he stated.

“The third one is across the very robust digital infrastructure. It’s a vital part of what the digital economic system relies on and the way the economic system grows over a time frame,” Nambiar stated.

GCCs, that are rising quickly, are one other optimistic facet, he famous.