Indian IT spending is forecast to reach $73.3bn in 2015, up by 9.4% from $67.1bn in 2014, according to a report by research firm Gartner.
The pace of IT spending in India may make it the third-largest IT market in the Asia-Pacific region by 2016, and the second-largest by 2018.
Gartner vice-president and global head of research Peter Sondergaard predicted the drive in spending would be rapid.
“Much of the growth from being the number-four market in Asia-Pacific to the number-three is likely to happen in 2015,” he said in a statement.
At present, China, Australia, Japan and India are the four biggest IT markets in the Asia-Pacific region. However, Gartner believes India will improve its current position to get to the number-three rank, and later push Australia to the third spot while occupying the second rank.
The telecommunication services segment will account for 39.3% of the Indian ICT market and it is set to see 4.2% revenue growth in 2015. Mobile data services will be the fastest-growing segment in India, growing by 18.2% in 2014.
IT services spending will increase by 15.7%, while the software sector may grow 14% in 2015, the report said. This spells good news for Indian software services exporters which have also reported improved growth and large-deal wins from key markets of the US and Europe.
Technology Consultant at Grove software solutions Anjali Verma said the numbers are motivating, with IT playing a dominant role in the development of India's economy.
“But still, more investment and talent is required to empower the Digital India mission,” she said.
Between the next three to seven years, CIOs will look to hire people for hot skillsets in areas like smart machines and robotics, and create roles like digital business architects, regulatory analysts, integration specialists and risk professionals.
According to Gartner, digital businesses will impact jobs in different ways. By 2018, digital businesses will require 50% fewer business process workers, however, by 2018 it will drive a 500% boost in digital jobs. The most in-demand skills in digital business will be in mobile, user experience and data sciences.