Wipro founder and chairman, Azim Premji, has said that he believes the Indian IT industry will see a double-digit growth in revenues in FY22. As per Premji, the IT industry was quick to adapt to the pandemic and has kept the world running since. Premji recently spoke at an event of the Bombay Chartered Accountants’ Society and showcased his feelings about the Indian IT industry’s future.

According to Nasscom, the FY21 IT industry revenues were nearly USD 194 billion. “This financial year (FY22), I’d not be surprised if the industry grows in very decent double digits,” Premji said. This is keeping in mind that the IT industry grew 2-3% despite the pandemic and also created 1.58 lakh new jobs in FY21.

Azim Premji believes Indian IT Industry revenues to hit double-digit growth in FY22

Within few weeks of the onset of the COVID19 pandemic, the IT industry switched to a work from home model. Since then over 90% of staff continue delivering on projects remotely.

A ‘hybrid model’ consisting of staff who work partially from home or offices. This has a hidden competitive advantage to it, as per Premji. This model is the future of work. According to him the hybrid model is very inclusive thus ensuring better participation from all parts of the country. Additionally, it also gives women the flexibility to stay at home and pursue their careers.

“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. According to Premji, the IT industry will drive the next phase of India’s growth. This will majorly contribute to India’s ambition of becoming a USD 5 trillion economy.