Indian tech industry revenue to touch $254 billion this fiscal: Nasscom

Mumbai: The domestic technology industry’s revenue is projected to grow 3.8 per cent to $254 billion this fiscal, industry body Nasscom said on Friday.

Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23.

The Engineering Research & Development (ER&D) sector alone contributed 48 per cent to the total export revenue addition in FY24, Nasscom said in its annual review.

The projected 3.8 per cent growth is despite a 50 per cent slide in tech spending and 6 per cent decline in tech contracts in 2023 globally.