Tech sector must aim to have 500-600 companies with over Rs 5,000 cr revenue in 5 years: MoS IT

The Indian IT industry should aim to have 500-600 companies with Rs 5,000 crore or above revenue in 3-5 years, from the current tally of 25-30 such firms, Union minister Rajeev Chandrasekhar said on Thursday, exhorting the sector to leverage its proven attributes of trust and competitiveness to tap global opportunities in the post-COVID world. For the Indian tech sector, the present moment represents an opportunity like never before, the Minister of State for Electronics and IT said.

“Currently, there are about 25 Indian tech companies that have Rs 5,000 crore or above revenue. And I think in 3-5 years…I don’t say it lightly, the number of companies that can be Rs 5,000 crore and more of revenue… we should have an ambition, and it is a realisable ambition, of taking it from the 25-30 we have today to about 500-600 in the next 3-5 years,” the minister said.