IT is the most important industry in the Indian economy that has played a major role in putting the country on the international map. The industry is classified into four categories including IT services, software, ITES-BPO, and hardware. All of these categories include different sectors such as software integration, hardware installation, computer maintenance, computer engineering, network services, application programming, product quality control, computer manufacturing, enterprise resource planning, and software engineering.
In recent years, the industry growth is commendable with an annual average of 30%. There are many factors that have contributed to the great growth of the IT industry in India. The first and most important factor that contributed is the availability of a large group of skilled and skilled manpower. India is believed to be home to skilled professionals abundant in all fields especially the IT industry and Impact Synonym.
Another contributing factor is the cost benefit. Indian workers work at relatively lower wages than foreign workers. In addition, companies offer much in terms of communications and Internet costs, which are cheaper in India compared to other countries around the world. They also provide enough fees due to low import duties on IT products such as software and hardware. All of these factors combine to offer significant advantages in costs and in return earn higher profits.
The government’s encouraging policies also added to the rapid growth of the industry. Many companies now feel free and comfortable in the IT sector. In the previous days, multinationals and large companies were not keen to start a business in this area, but now with the full support of the government, it is easier for them to start, grow and maintain.
Some of the major IT companies in India that have pushed the industry up are Tata Consultancy Services, Infosys, Wipro, IBM, HP, HCL, Patni, Satyam and Cognizant Technology Solutions and.
Indian IT expects to thrive more in the coming years. According to NASSCOM, the sector is expected to generate profits of about US $ 225 billion. The main factors that will raise the growth pattern in the coming years are the share of industry in Indian exports, huge employment opportunities and the inflow of foreign direct investment (FDI) in the information technology sector.