Indian IT Industry Revenues Will See Double-Digit Growth In FY-22: Wipro Chief Azim Premji

The IT industry generated USD 194 billion in sales in FY21, according to Nasscom.

Wipro Chief Azim Premji. (File Photo/ Getty)

New Delhi: Azim Premji, the founder, and chairman of Wipro, thinks that revenue growth in the Indian IT industry will be in the double digits this fiscal year. 

“This financial year (FY22), I’d not be surprised if the industry grows in very decent double digits,” Premji said, emphasizing that the business increased 2-3 percent and produced 1.58 lakh new employment on a net basis in FY21, despite the pandemic. 

Speaking at a Bombay Chartered Accountants' Society event on Tuesday evening, Premji remarked that the information technology industry has kept the globe running and adapted to the changes throughout the epidemic, which saw lockdown measures put in place to stop the virus from spreading. 

The IT industry generated USD 194 billion in sales in FY21, according to Nasscom. A few years ago, the lobbying group stopped providing topline growth forecasts. 

On Thursday, businesses will begin reporting their first-quarter financial results. 

He claimed that the IT industry converted to working from home within weeks of the pandemic's commencement and that over 90% of employees are still delivering projects remotely. 

Premji, when asked about the mannequin which is being promoted as the way future for employment said the 'hybrid model', in which individuals work partially from home or from workplaces, offers a significant competitive edge. He states that the hybrid model is very inclusive, with benefits such as increased involvement from all sections of the country and the ability for women to continue working. 

“We will have to work together to figure out the optimal balance and optimal approach so that we strengthen India as the skill hub of the world,” he said.

Premji stated that the IT industry is well-positioned to lead India's next phase of growth and can make a significant contribution to the country's goal of making itself a USD 5 trillion economy.