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A recent report by NASSCOM has indicated that the Tech SME sector in India is projected to double revenue and reach USD 40 billion by FY30 due to the increasing demand for dedicated Cloud, AI/ML, or IoT service providers. The report noted that the sector is expected to contribute 7-9 per cent to the overall FY23E tech industry revenue at USD 15 billion – USD 20 billion, higher than the pre-pandemic share. The segment is also diversifying digital offerings across geographies and SMEs have increased their presence in the APAC region. Increased investment in cloud, migration, SaaS, and AI-based solutions have led to significant growth of four-fold in digital technology SMEs since FY19.