IT & ITES News

It Export Jumps 50% In Last Fiscal | Indore News

Indore: Exports from information technology (IT) firms and information technology enabled services (ITES) offered by home grown firms have jumped by over 50 per cent in the fiscal 2021-22 bolstered by huge demand for digital transformation across sectors.
In the financial year 2021-22, exports from IT/ITES firms of Indore stood at Rs 1,761 crore, up by 52 per cent from the last fiscal, according to the official data from the Development Commissioner SEZ.
The data includes export figures from companies operating from Crystal IT Park and large firms working from SEZ’s.
The shift of work from conventional mode of operations to technology platforms to expand reach and to remain in competition led by edTech, fintech, healthcare, banking, travel and manufacturing services have led to a significant growth in workflow to local IT/ITES firms.
Talking to TOI, Siddharth Sethi, CEO and co-founder of a software development company said, “There is a huge demand for digital transformation services post Covid-19 as companies have realized that to be relevant, they have to move their entire workflows to digital platforms. This has resulted in huge demand for software development services for cloud, artificial intelligence (AI) and machine learning (ML) technologies.”
Indore, is emerging as a hub for IT companies and has presence of several small, medium and large players operating from Crystal IT Park, Atulya Park, Electronic Complex and from designated Special Economic Zones (SEZ).
“Indore based IT/ITES companies are working with large enterprises across the world and this has resulted in increase in exports from Indore based companies,” said Sethi while talking to TOI.
Exports from companies operating from Crystal IT Park in the fiscal 2021-22 jumped to Rs 597 crore, up 32 per cent year-on-year.
Vaibhav Tiwari, CEO of an IT start-up developing CI/CD platforms for foreign clients said, “The technology industry has become the backbone for most of the industries helping them grow, transform and innovate. Outsourcing to India, especially IT outsourcing, is on the rise due to the abundance of qualified professionals who have the skills to create superior results. Most of our clients are based out of the USA followed by enquiries from Japan and Singapore.”

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