India Tech Inc: Paving the Path to Global Leadership Through Innovation

India's burgeoning technology sector, a USD 300 billion powerhouse contributing 7% to the national GDP, is urged to steer towards intellectual property-led and platform-driven sectors. This strategic pivot, detailed in a recent Boston Consulting Group report, aims to tap into the expansive USD 8.4 trillion global technology market.

Currently, India's tech industry generates over USD 200 billion in exports and provides employment to nearly 5.8 million people. While commanding a 15-17% share of the global IT consulting and services market, the report highlights that merely 17% of global tech revenues stem from IT-enabled services, with the remainder concentrated in faster-growing domains like hyperscale cloud platforms, semiconductors, software, deep tech, and AI-first enterprises.

The BCG report, titled 'India Tech's Next Innings: Signals, Shifts, and Considerations for India Tech,' advocates for a strategic transformation more aligned with capital-intensive, R&D-focused, and IP-led segments. Recommendations include upgrading the value chain in core IT services, judiciously investing in areas such as semiconductors and deep tech, and developing AI-driven platforms and software. It further calls for cohesive efforts in talent reskilling, fostering global partnerships, and implementing visionary policies to sustain growth.