STPI Exceeds Rs. 9 Lakh Crore Mark in IT Services Exports, Launches 'Ananta' Cloud Initiative

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STPI Exceeds Rs. 9 Lakh Crore Mark in IT Services Exports, Launches 'Ananta' Cloud Initiative

Team finance Saathi

06/Jun/2024

Key Points:

STPI's IT services exports have surpassed Rs. 9 lakh crore in FY24, reflecting significant growth since 1991.
The 'Ananta' initiative aims to create India's sovereign cloud with a range of services including IAAS, PAAS, SAAS, and GPU-based services.
STPI has signed MoUs with Sabudh Foundation and DBS Bank India to foster DeepTech skill development and strengthen the tech startup ecosystem.

On its 33rd Foundation Day, the Software Technology Parks of India (STPI) celebrated a landmark achievement in the Indian IT sector. STPI's Director General, Mr. Arvind Gupta, proudly announced that IT services exports from STPI-registered units have exceeded Rs. 9 lakh crore (US$ 107.91 billion) in the 2024 financial year. This monumental accomplishment underscores the exponential growth and pivotal role of STPI in nurturing the IT industry since its inception.

Ananta: India's Sovereign Cloud Journey

A significant highlight of the Foundation Day was the unveiling of 'Ananta', an ambitious initiative aimed at developing India's sovereign cloud journey. Branded as a hyperscale cloud made by Indians for Indians, Ananta promises to revolutionize the digital landscape of the nation. It will offer a comprehensive suite of services including Compute Infrastructure Services (IAAS), Platform as a Service (PAAS), Software as a Service (SAAS), and GPU-based services. Mr. Gupta emphasized that Ananta would provide unparalleled convenience, security, and efficiency to Indian enterprises, furthering the nation’s digital sovereignty.

Historical Growth and Impact

Reflecting on STPI's journey, Mr. Gupta highlighted the tremendous growth in IT exports from Rs. 17 crore (US$ 2.04 million) in 1991 to the current figure of Rs. 9.19 lakh crore (US$ 110.19 billion). This remarkable growth trajectory is a testament to the sustained efforts and strategic initiatives undertaken by STPI to bolster the IT sector. The organization now operates 65 centers across India, with 57 centers in tier 2 and tier 3 cities, significantly expanding the IT-ITes industry’s reach and creating substantial employment opportunities.

Key Collaborations for Future Growth

During the event, STPI signed a memorandum of understanding (MoU) with Sabudh Foundation to launch skill-development initiatives aimed at fostering an entrepreneurial training ecosystem in DeepTech for engineering graduates. This initiative is set to equip the future workforce with cutting-edge skills, aligning with the evolving demands of the technology sector.

In another strategic move, STPI exchanged an MoU with DBS Bank India through its STPINEXT initiatives. This partnership aims to strengthen the tech startup ecosystem, providing crucial support to burgeoning tech entrepreneurs. Mr. Gupta highlighted that STPI has established 24 entrepreneurship centers, nurturing over 1,000 startups. The organization plans to launch the Ananta platform in collaboration with Yotta to provide essential cloud services to startups and small IT industries, aiding in the development of deep tech products.

Expanding IT Infrastructure and Employment

STPI's efforts have significantly contributed to the expansion of IT infrastructure and employment in India. The establishment of centers in tier 2 and tier 3 cities has democratized access to technology, fostering innovation and growth in previously underserved regions. By creating a conducive environment for startups and providing state-of-the-art infrastructure, STPI has been instrumental in driving India’s digital transformation.

Ananta’s Vision and Future Prospects

The vision behind Ananta is to create a robust and secure digital infrastructure that can support the growing needs of Indian enterprises. By offering a range of cloud services, Ananta aims to reduce dependence on foreign cloud providers, ensuring data sovereignty and security. This initiative is expected to drive significant innovation in the tech sector, enabling businesses to leverage advanced technologies without compromising on security or efficiency.

Ananta’s rollout will also play a crucial role in fostering a culture of innovation and entrepreneurship. By providing startups and small businesses with access to high-performance cloud services, STPI aims to create a level playing field, enabling these entities to compete on a global scale. This initiative is poised to transform the Indian tech landscape, driving growth and innovation across various sectors.

Conclusion

The 33rd Foundation Day of STPI marked a significant milestone in India’s IT journey. The announcement of IT exports surpassing Rs. 9 lakh crore is a testament to STPI’s pivotal role in shaping the industry. The launch of the Ananta initiative represents a bold step towards establishing India’s digital sovereignty and fostering a robust ecosystem for innovation and growth.

With strategic collaborations, such as those with Sabudh Foundation and DBS Bank India, and the expansion of its infrastructure across tier 2 and tier 3 cities, STPI continues to drive the growth of the IT sector. As India embarks on its sovereign cloud journey with Ananta, the future looks promising for the nation’s digital economy. By leveraging cutting-edge technology and fostering an environment of innovation, STPI is set to play a crucial role in realizing India’s vision of becoming a global tech powerhouse.

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Services

STPI Exceeds Rs. 9 Lakh Crore Mark in IT Services Exports, Launches 'Ananta' Cloud Initiative

Key Points:

Ananta: India's Sovereign Cloud Journey

Historical Growth and Impact

Key Collaborations for Future Growth

Expanding IT Infrastructure and Employment

Ananta’s Vision and Future Prospects

Conclusion

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