<p>The domestic IT market has grown 16.7 per cent to Rs 91,800 crore in 2011-12 from Rs 78,600 crore in the previous fiscal, the government said today.<br /><br /></p>.<p>"The growth rate of the IT domestic market is 16.7 per cent in the financial year 2011-12. The domestic market has increased from Rs 786 billion to Rs 918 billion," Minister of State for Communications and IT Sachin Pilot said in a written reply to the Rajya Sabha.<br /><br />The aggregate revenue for the IT sector is estimated to cross USD 100 billion (over Rs 5 lakh crore) mark in financial year 2011-12, from USD 88 billion in 2010-11, he added.<br /><br />The information technology sector has been growing at compounded annual growth rate (CAGR) of 17 per cent during the last five years (2007-12), the Minister said.<br /><br />"The contribution by the IT sector in India's GDP has increased from 6.4 per cent in 2008 to 7.5 per cent in 2012," Pilot said.<br /><br />The sector has provided direct employment to 2.8 million people and indirect employment to 8.9 million people, he added.</p>
<p>The domestic IT market has grown 16.7 per cent to Rs 91,800 crore in 2011-12 from Rs 78,600 crore in the previous fiscal, the government said today.<br /><br /></p>.<p>"The growth rate of the IT domestic market is 16.7 per cent in the financial year 2011-12. The domestic market has increased from Rs 786 billion to Rs 918 billion," Minister of State for Communications and IT Sachin Pilot said in a written reply to the Rajya Sabha.<br /><br />The aggregate revenue for the IT sector is estimated to cross USD 100 billion (over Rs 5 lakh crore) mark in financial year 2011-12, from USD 88 billion in 2010-11, he added.<br /><br />The information technology sector has been growing at compounded annual growth rate (CAGR) of 17 per cent during the last five years (2007-12), the Minister said.<br /><br />"The contribution by the IT sector in India's GDP has increased from 6.4 per cent in 2008 to 7.5 per cent in 2012," Pilot said.<br /><br />The sector has provided direct employment to 2.8 million people and indirect employment to 8.9 million people, he added.</p>