NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Even as the world continues to grapple with the covid-19 pandemic, the remarkable resilience of India’s tech industry has been on display, with investments soaring to a mammoth $38 billion. A significant portion of these investments went to software as a service (SaaS)-based companies, which witnessed a major growth brought about by an increasing demand for digital tools and automation amid the current crisis. Unsurprisingly, eight of the world’s 10 richest companies grew and expanded because they are tech companies. The fastest-growing jobs on LinkedIn’s list of emerging jobs globally are artificial intelligence specialist and data scientist. During the covid period itself, Apple, Microsoft, Amazon, Facebook and Google enhanced their market capitalization by over $1 trillion.