India's smartwatch market has been growing rapidly, becoming the world's largest in 2022. The market is expected to grow at a compound annual growth rate of 64.7% from 2023 to 2029, reaching $120.9 billion by 2032.
In 2023, India's IT sector exports reached $193 billion, with software and services accounting for $126 billion. This is almost double the $108 billion in 2016.