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India: a thriving home for technology innovation

India: A thriving home for technology innovation

India, one of the most populated countries in the world, is also one of the most tech-savvy. Making a name for itself on the global stage, much like the US, the country has tech hubs comparable to Silicon Valley in the cities of Hyderabad, Bangalore, Chennai, and Thiruvananthapuram’s Technopark. With a global presence in over one hundred countries, the Indian technology industry draws on talent from 150 nationalities, and over 1.6 million digitally-skilled people. And the impressive numbers don’t stop there.

According to the National Association of Software and Service Companies (Nasscom), the Indian IT industry’s revenue is expected to reach 254 billion US dollars in FY24, while the YoY growth rate is touted to be 3.8%. This makes the country one of the fastest-growing and largest innovation hubs in the world. The software as a service (SaaS) innovation emerging from India in particular, is expected to create $1 trillion in value and almost a quarter of the industry’s revenues by 2030.So, what sets India’s technology sector apart from the rest of the world, and how can you take advantage of their digitally skilled workforce? Read on to find out!

Why does India have such a robust technology industry?

It is not just education that makes India stand out from the crowd in terms of digital innovation; it is an ingrained part of their culture and upbringing too. India’s predisposition toward mathematics and science, and the government’s focus on STEM-based (Science, Technology, Engineering and Math) education, have helped Indians adopt a drive for technology innovation as a way of life.

Edtech platforms in India have worked on creating AI-led models that breathe life into STEM learning for students, and it is through these mediums that every student, despite their academic history, can grow their tech wisdom with STEM. The new National Education Policy of India (2020-21) has made technology innovation an important part of the curriculum, where subjects such as Robotics, Coding, and Artificial Intelligence are introduced as early as elementary school level to enable long-term and comprehensive science, IT and engineering literacy from a young age.

The number of STEM graduates from India is particularly impressive. In fact, percentage-wise, there are more Indian female (43%) graduates in STEM at the tertiary level than in developed nations like the US (34%), UK (38%), France (32%), and Germany (27%).

This makes for a dedicated, diverse and extremely talented technology workforce that is helping to positively shape the global digital economy.

India - a powerhouse of innovation

How can you take advantage of India’s technology innovation?

Grid Dynamics has opened an office in Hyderabad, India, a robust business center for hyperscale IT services providers and fintech companies. Hyderabad serves as a critical technology growth powerhouse with a high concentration of skilled talent coming out of a strong network of globally renowned, top-tier engineering and management schools.

Expanding in India aligns with our long-term growth strategy and plays a critical role in scaling first-class talent to deliver global services to our clients. Within the next year, Grid Dynamics will continue expanding its engineering team in India, where we plan to house a significant part of our global workforce.

From Grid Dynamics CEO, Leonard Livschitz: “Grid Dynamics’ India Engineering Center is part of our strategic blueprint as a global engineering and technology company. Our presence in India gives us access to the best talent pool at scale and allows us to provide more flexibility to our customers along with our operations in the United States, Europe, and Latin America.”

“Our clients are enthusiastic about our presence in India as it allows us to seamlessly scale our engineering workforce and support their innovation needs. We are excited about the breadth and depth of the talent pool in India. We have augmented our leadership across human resources, delivery, and operations and partnered with one of the leading universities for internships. Our new office is located in the fast-growing innovation hub of Hyderabad, India—also a base for the world’s top technology companies. This will help us attract and recruit high-quality talent, and further strengthen our position as a global services company.”

Final thoughts

India’s robust technology industry stems from a culture that values education and innovation, with a strong focus on STEM-based learning. This foundation cultivates a diverse and talented workforce, contributing to the country’s position as a global IT services provider, making it an ideal location for companies willing to establish innovative delivery centers. 

Interested to find out more about Grid Dynamics technology innovation services in India, or other locations across the globe? Get in touch with us to speak to a tech expert near you.

Looking for Grid Dynamics career opportunities in India? Check out our current job opportunities, and read our India relocation guide to find out more about the perks of living and working for us in India.

India's technology sector: FAQs

Why is India seen as a hub for technology innovation?

India is regarded as a technology innovation hub due to its significant IT spending, advanced technology infrastructure, emphasis on self-reliance, and abundant tech talent.

What major tech companies have a large presence in India?

Major tech companies with a significant presence in India include Google, Microsoft, Amazon, IBM, Accenture, TCS, Infosys, and Wipro.

What areas of technology is India innovating in?

India is seeing rapid innovation and product development growth in areas like AI, machine learning, big data analytics, cloud computing, and mobility solutions, fueled by strong capital markets and risk-taking by investors.

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