Overview

• UPI accounted for 84% of digital transactions in 2025, cementing India’s position as the world leader in real-time payments.
• The software services industry generated $245 billion in annual revenue in 2025, with about $200 billion coming from exports to clients in the US and Europe.
• Top Indian IT firms cut 75,000 jobs in 2023 amid the rise of AI-driven automation, leading to slower hiring and a reassessment of business models.
• Companies and policymakers are now investing in domestic AI capabilities and the creation of intellectual property to move beyond low-cost services.
• Decades of institutional investments—from IITs and TIFR to the JAM trinity—provided the foundation for India’s robust digital infrastructure and service ecosystem.