IT companies broke a decade's record of earning during the Corona era, know why income increased

IT companies broke a decade’s record of earning during the Corona era, know why income increased

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New Delhi. During the Corona epidemic, there has been a bumper boom in the earnings of IT companies. Information technology sector of the country (IT Sector) earnings can reach $ 227 billion in 2021-22 with a growth of 15.5 percent. This growth is the highest in any financial year of the last decade. Debjani Ghosh, president of IT industry body Nasscom, said that 2021-22 has been great for the country’s IT companies.

IT services during the Corona crisis (IT Services) has increased rapidly. Due to this the earnings of these companies have also increased. He said the growth of 15.5 per cent in the current financial year is the highest in any year of the last decade. According to the industry body, the income of the IT sector grew by 2.3 per cent to $194 billion in 2020-21.

4.5 lakh new jobs
According to a Nasscom report, the IT industry added 4.5 lakh new jobs to take the total direct workforce to 50 lakh. The number of women in the new employees was 44 percent, due to which their total number has increased to 18 lakh.

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Earnings from exports increased by 17 percent
Indian IT companies’ export earnings grew 17.2 per cent to $178 billion, while domestic income grew 10 per cent to $49 billion. Ghosh said the share of digital services in the IT sector has increased by 25 per cent to $13 billion. The country has a strong workforce for the technologies of the future.

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Leaving rate at highest level
According to the report, the job loss rate in the IT sector has reached the highest level. Krishnan Ramanujan, vice-president of the industry body, said that if we look at the figures of the top-10 IT companies in the December quarter, it seems that the number of job losses has not decreased even then it is stable. Hopefully in the IT sector we have touched the peak of this problem. The situation is expected to get better going forward. According to Nasscom, in recent quarters due to increased demand for digitization across the world, many companies have reported more than 20 per cent of employees to leave their jobs.

Tags: Employment News, IT sector

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