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India ICT Market Report Overview
The India ICT market reached a value of USD 129.70 Billion in 2025 and is projected to expand at a CAGR of around 13.10% during the forecast period of 2026-2035. The India AI Mission, accelerating cloud adoption, major hyperscaler infrastructure commitments from Microsoft and Google, and the rapid expansion of India's globally recognised IT services sector are driving sustained ICT market growth. The market is expected to reach USD 444.19 Billion by 2035.
Key Market Trends and Insights
- South India is expected to record a CAGR of approximately 13.5% over the forecast period, reflecting its position as India's primary ICT hub through Bengaluru, Hyderabad, and Chennai, hosting regional headquarters of TCS, Infosys, IBM, and Microsoft and anchoring the India AI Mission's GPU infrastructure buildout.
- The IT and Infrastructure Services segment is expected to exhibit a CAGR of approximately 14.0% over the forecast period, driven by enterprise cloud migration, managed services demand across BFSI, government, and manufacturing, and hyperscaler-delivered AI infrastructure expansion.
- The BFSI segment is anticipated to register a CAGR of approximately 13.5% during the forecast period, reflecting BFSI's leading share of India ICT vertical spending, driven by cloud banking platforms, AI-powered fraud detection, and digital payments growth.
Market Size & Forecast
- Market Size in (2025): USD 129.70 Billion
- Projected Market Size in (2035): USD 444.19 Billion
- Compound Annual Growth Rate (CAGR) (2026-2035): 13.10%
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| India ICT Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 129.70 |
| Market Size 2035 | USD Billion | 444.19 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 13.10% |
| CAGR 2026-2035 - Market by Type | Telecommunication Services | 15.1% |
| CAGR 2026-2035 - Market by End Use | Retail and E-Commerce | 15.9% |
| CAGR 2026-2035 - Market by Region | South India | 15.1% |
| 2025 Market Share by Region | West India | 24.5% |
Key Trends and Recent Developments
The India ICT market is experiencing a landmark wave of hyperscaler and domestic technology investment. Combined commitments exceeding USD 50 billion were announced in late 2025 from Microsoft, Google, and AWS, alongside TCS, Infosys, and India's leading IT companies pivoting to AI-first service delivery.
Tata Consultancy Services committed USD 500 million in January 2026 for an AI R&D centre in Bengaluru, with plans to hire 2,000 AI specialists by December 2026. The investment reinforces South India's role as India's leading ICT innovation hub and strengthens TCS's positioning in enterprise AI consulting globally.
Microsoft announced its largest Asia investment in December 2025, committing USD 17.5 billion over four years (2026-2029) to expand India's cloud and AI infrastructure, including the India South Central cloud region in Hyderabad expected online in mid-2026, targeting 20 million people with AI skills by 2030.
Infosys closed a USD 1.5 billion deal for a European engineering-services company in November 2025, adding 8,000 engineers to its Industry 4.0 portfolio. The deal demonstrates Infosys's strength in industrial AI and digital engineering and reflects Indian IT companies winning large AI and automation consolidation mandates from global enterprises.
Google confirmed a USD 15 billion AI data centre investment in Visakhapatnam, Andhra Pradesh in October 2025, described as Google's largest India investment and one of its biggest AI infrastructure projects globally. The facility will feature gigawatt-scale operations and an international subsea cable gateway.
Hardware - Growing Segment Through 5G Network Infrastructure and Data Centre Buildout
Hardware is a growing India ICT segment driven by 5G network equipment rollout, data centre expansion, and the Production Linked Incentive scheme. Data centre power capacity reached 950 MW in FY2024 and is projected to exceed 4.5 GW by 2030, creating sustained demand for network switches, routers, servers, and storage.
Software - Fastest-Growing Type Driven by AI, SaaS, and Cloud-Native Applications
Software is the fastest-growing ICT type in India, driven by enterprise adoption of AI-powered platforms, SaaS applications, and cloud-native architecture. The India AI Mission's 10,000 GPU compute target creates structured AI software demand. India's digital economy grows at 2.8 times the rate of broader GDP growth.
IT and Telecom Vertical - Fastest-Growing Industry Vertical at 13.9% CAGR
IT and Telecom is the fastest-growing India ICT vertical at 13.9% CAGR, driven by 5G network buildout, enterprise managed connectivity, and India's expanding global technology delivery ecosystem. Bharti Airtel is expanding its enterprise ICT portfolio while TCS, Infosys, and HCL Technologies scale AI-first delivery capabilities.
BFSI Vertical - Leading Industry Vertical Driven by Digital Banking and Payments Adoption
BFSI is the leading India ICT industry vertical, driven by digital banking platform deployments, AI-powered fraud detection, open banking APIs, and digital payments. India processed 74 billion payment transactions valued at USD 1,536 billion in 2022 and UPI, mobile banking, and digital lending sustain high ICT investment across banks, insurers, and fintechs.
South India - Dominant ICT Region and Leading AI Infrastructure Hub
South India is the dominant India ICT region through Bengaluru, Hyderabad, and Chennai. TCS's Bengaluru AI R&D centre, Microsoft's India South Central cloud region in Hyderabad, and Google's USD 15 billion AI data centre in Visakhapatnam cement South India as India's primary AI infrastructure and IT services hub.
India ICT Market Segmentation
"India ICT Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Hardware
- Network Switches
- Routers and WLAN
- Servers and Storage
- Others
- Software
- IT and Infrastructure Services
- Telecommunication Services
Key Insight: IT and Infrastructure Services leads by revenue through managed services, cloud infrastructure, and IT exports. Software is the fastest-growing type through AI and SaaS adoption. Hardware grows through 5G and data centre infrastructure.
Market Breakup by Industry Vertical
- BFSI
- IT and Telecom
- Government
- Retail and E-Commerce
- Manufacturing
- Energy and Utilities
- Others
Key Insight: BFSI leads India ICT vertical spending through digital banking, payments, and AI fraud detection. IT and Telecom is the fastest-growing vertical at 13.9% CAGR. Government is a major vertical through Digital India and BharatNet.
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
Key Insight: South India is the dominant and fastest-growing region through Bengaluru, Hyderabad, and Chennai ICT hubs. West India is the second-largest region through Mumbai's financial sector and Pune technology cluster. North India is growing through Delhi-NCR enterprise demand.
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India ICT Market Share
By Type, IT and Infrastructure Services leads India ICT by revenue while Software is the fastest-growing type through AI and SaaS
IT and Infrastructure Services leads India ICT by revenue, reflecting India's status as the world's largest IT services exporter (NASSCOM: USD 297 billion in FY25). The segment encompasses cloud infrastructure, managed services, and IT consulting from TCS, Infosys, Wipro, and HCL. Hardware is the second-largest category through 5G and data centre buildout.
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Software is the fastest-growing type through AI platform, SaaS, and cloud-native adoption. The India AI Mission's GPU compute subsidy creates structured demand for AI-powered software. Telecommunication Services holds a stable large share through mobile data and enterprise connectivity.
By Industry Vertical, BFSI leads India ICT vertical spending while IT and Telecom is the fastest-growing vertical at 13.9% CAGR
BFSI leads India ICT vertical spending through India's rapidly expanding digital financial services sector. India processed 74 billion digital payment transactions in 2022, and UPI, mobile banking, and AI-powered banking sustain high ICT investment across commercial banks, insurers, and fintechs. IBM, TCS, Infosys, and Accenture are major BFSI technology delivery partners.
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IT and Telecom is the fastest-growing vertical at 13.9% CAGR through 5G investment and enterprise connectivity expansion. Government is significant through Digital India, BharatNet, and the India AI Mission. Retail and E-Commerce grows through India's e-commerce GMV reaching USD 60 billion in 2023.
India ICT Market Regional Analysis
India is the fastest-growing major ICT market in Asia Pacific, combining world-class IT services exports and government-led AI and digital infrastructure buildout
The India ICT market sits within the Asia Pacific ICT market, which reached USD 1.36 Trillion in 2025 and is growing at a 4.60% CAGR to reach USD 2.13 Trillion by 2035. India is the fastest-growing major economy in Asia Pacific ICT with a 13.10% CAGR outpacing the regional average, targeting a USD 1 trillion digital economy by 2027-28.
Amazon, Microsoft, and Google committed a combined USD 50 billion to India between October and December 2025, making India one of the world's most intensely invested AI infrastructure markets. The IndiaAI Mission targets 10,000 GPU compute at subsidised pricing, and BharatNet connected over 214,000 gram panchayats by December 2025 with optical fibre.
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Competitive Landscape
The India ICT market is contested by global technology companies and India's tier-1 IT services giants. TCS, Infosys, Wipro, and HCL Technologies collectively employ over 1.3 million technology professionals, combining global hyperscaler investment with world-class domestic IT delivery.
Tata Consultancy Services Ltd.
Founded in 1968 and headquartered in Mumbai, Tata Consultancy Services Ltd. is India's largest IT company, employing over 600,000 professionals globally. In January 2026, TCS committed USD 500 million for an AI R&D centre in Bengaluru, hiring 2,000 AI specialists by December 2026 for AI-first service delivery across BFSI, manufacturing, and government.
Infosys Ltd.
Founded in 1981 and headquartered in Bengaluru, Infosys Ltd. is India's second-largest IT company and a global leader in digital services and consulting. In November 2025, Infosys closed a USD 1.5 billion engineering-services deal adding 8,000 Industry 4.0 engineers. Infosys is the fastest-growing IT services brand globally in the Brand Finance Global 500 2025 report.
Microsoft Corp.
Founded in 1975 and headquartered in Redmond, Washington, Microsoft Corp. is the world's leading enterprise software and cloud company. In India, Microsoft has committed USD 17.5 billion over four years (2026-2029) to expand Azure AI and cloud infrastructure, including the new India South Central cloud region in Hyderabad expected online in mid-2026. Microsoft targets training 20 million people with AI skills by 2030 and is building sovereign cloud capabilities to meet India's data residency requirements across government and enterprise sectors.
IBM Corp.
Founded in 1911 and headquartered in Armonk, New York, IBM Corp. is a global leader in enterprise AI, hybrid cloud, consulting, and infrastructure services. IBM serves major Indian BFSI, government, and manufacturing clients with Watson AI, IBM Cloud, and IBM Consulting as a leading BFSI technology partner for digital banking transformation and AI fraud detection.
Other key players in the market are Google LLC, Accenture Plc, Tech Mahindra Ltd., Wipro Ltd., HCL Technologies Ltd., and Bharti Airtel Ltd., among others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Key Findings from the India ICT Market Report
- Comprehensive analysis of the India ICT market from 2019 to 2035, covering type, industry vertical, and regional dimensions with Asia Pacific context
- Segment breakdowns across hardware, software, IT and infrastructure services, and telecom types; BFSI, IT and telecom, government, retail, manufacturing, and energy verticals; and North, East and Central, West, and South India regional dimensions
- Competitive benchmarking of TCS, Infosys, Microsoft Corp., and IBM Corp., covering India market activities, AI capabilities, and strategic positioning
- Analysis of TCS's USD 500 million Bengaluru AI R&D centre, Microsoft's USD 17.5 billion India commitment, Infosys's USD 1.5 billion engineering deal, and Google's USD 15 billion AI data centre through 2035
- Strategic insights for ICT vendors, cloud providers, and enterprise technology investors on the India AI Mission, BFSI sector demand, South India ICT hub growth, and the combined USD 50 billion hyperscaler investment wave
Why Choose Expert Market Research?
- ICT vendors, cloud providers, and investors in India rely on our market intelligence for market sizing, segment strategy, and investment decisions.
- Every report draws on experienced technology analysts with deep knowledge of India ICT policy, domestic IT sector dynamics, and hyperscaler competitive positioning.
- Whether sizing a technology type, evaluating a vertical market entry, or benchmarking competitor AI strategies in India, our research provides the specific intelligence the market demands.
- Coverage is tailored: a specific ICT type, vertical deep-dive, regional analysis, or competitive benchmarking can be addressed through customised research options.
Call to Action
Our full report for 2026-2035 delivers the market data, technology analysis, and competitive intelligence to capture India ICT's rapid growth opportunity. Reach out to our team to access the complete report or request a customised version.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
The market was valued at nearly USD 129.70 Billion in 2025.
The market is projected to grow at a CAGR of 13.10% between 2026 and 2035.
The market is assessed to witness healthy growth in the forecast period to reach around USD 444.19 Billion in 2035.
The different types of ICT in the market include hardware, software, IT and infrastructure services, and telecommunication.
The different industry verticals in the market include BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others.
The different regions covered in the market report are North India, East and Central India, West India, and South India.
The key market players are IBM Corp., Microsoft Corp., Google LLC, Accenture Plc, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Infosys Ltd., Wipro Ltd., HCL Technologies Ltd., and Bharti Airtel Ltd., among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Industry Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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