Technology is shaping economies more profoundly than ever before, Nasscom President Rajesh Nambiar said on Thursday as he outlined India's strengths as a global talent hub which positions it as a preferred partner in the global technological ecosystem.
Technology is shaping economies more profoundly than ever before, Nasscom President Rajesh Nambiar said on Thursday as he outlined India's strengths as a global talent hub which positions it as a preferred partner in the global technological ecosystem.
Nambiar was speaking at the IT industry body's Global Confluence 2025 here.
"Today, the world is in a bit of an inflection point than ever before. Some of the technologies are actually playing a lot more influence on the economic models that we are seeing in the country," he said.
Nambiar noted that the world is experiencing a global technological shift, which has created a rising demand for a high-quality talent base to meet the challenges and opportunities of this new landscape.
There is no industry or country that is growing without technology playing a leading role. All of them have always been driven by technology to some extent, he said.
"A country like India continues to be a partner of choice for the global technological ecosystem," he said.
The IT industry is projected to close FY25 with a valuation of approximately USD 283 billion and is expected to surpass USD 300 billion in the following year, he stated. He also acknowledged the digital economy's contribution to GDP, which is anticipated to exceed USD 1 trillion by 2030.
India's unmatched technology talent pool stands out as one of its key competitive advantages, he remarked.
"This industry employs roughly about 5.8 million people as of today and it continues to grow. We are 28 per cent of the global STEM talent market worldwide. 23 per cent of the software engineering talent is housed in India," he pointed out.
Another point that makes India an important partner in the broader global tech ecosystem is its thriving startup and innovation ecosystem, Nambiar further said.
With over 34,000 technology startups and 3,600 deep tech startups, the nation's fundamentals are strong, and technologies such as AI and quantum computing are well-established, he said.
"The third one is around the very strong digital infrastructure. It is a critical component of what the digital economy depends on and how the economy grows over a period of time," Nambiar said.
GCCs, which are growing rapidly, are another positive aspect, he noted.