Growing IT Industry of India

Oct. 13, 2010 - PRLog -- Information Technology is the most significant industry in the Indian economy that has played a major role in placing the country on the international map. The industry is classified into four categories including IT Services, Software, ITES-BPO, and Hardware. All these categories together encompass various sectors like the software integration, hardware installation, computer maintenance, computer engineering, network services, application programming, product quality control, computer manufacturing, enterprise resource planning, and software engineering.

In the recent years the growth of the industry is commendable at an average annual rate of 30%. There are various factors that have contributed to the significant growth of the IT industry in India. The first and foremost contributing factor is the availability of a vast pool of talented and skilled manpower.  It is believed that India is a home to abundant skilled professionals in all fields especially the IT industry.

The other contributing factor is the cost benefit. Indian workers work at comparatively lower wages than the foreign professionals. Apart from this the companies also save a lot in terms of telecommunication and internet cost that is cheaper in India when compared to other countries across the globe. They also save enough because of the reduced import duties on IT products like software and hardware. All these factors combine to offer great cost advantages and in return earn higher profits.

Encouraging government policies has also added to the rapid growth of the industry. Many companies now feel free and comfortable venturing into the IT sector. In the earlier days multinationals and huge firms were not keen to start off a business in this field but now with full support from the government things have become easier for them to start, grow, and maintain.

Some of the major IT companies in India that have pushed the industry to great heights are Tata Consultancy Services, Infosys, Wipro, IBM, HP, HCL, Patni, Satyam, and Cognizant Technology Solutions.

The Indian IT is expecting to flourish more in the coming years. According to NASSCOM, the sector is expected to earn a profit of about 225 billion US dollar. The key factors that will raise the growth chart in the coming years are the share of the industry in Indian export, massive employment opportunities, and high inflow of FDI (Foreign Direct Investment) in the IT sector.

Indian IT industry is continuously booming and adding more value to the Indian economy.

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Jennie Gandhi has a passion for writing and writes on diverse topics including fashion, beauty, automotive, educational, motivational and even technical. To know about the IT education and IT Training Courses check http://www.ittrainingcourses.org