Indian tech industry to grow slower at 3.8%, crosses $250 billion: Nasscom

Even as India’s technology industry surpasses $250 billion in revenue, it is expected to grow at a slower pace of 3.8% to reach $253.9 billion for the 2023-24 fiscal year ending March, as per to the Annual Strategic Review report by the National Association of Software and Service Companies (Nasscom).

The year-on-year growth rate is touted to be 3.8% as compared to 8.1% growth to $244.6 billion in FY23, as per the report released by the industry body on February 16. Nasscom had projected the growth to be 8.4% in the previous fiscal year from $226 billion in FY22.