Overview of the IT Industry in India
The IT sector in India is one of the fastest growing industries. Comprising of IT and ITES, the numerous companies in India have built up valuable brand equity for themselves in the global markets. As of today, India is considered as a pioneer in software development and a favorite destination for IT-enabled services. India's IT industry ranks among the fastest growing sectors, driven primarily by software exports. The growth rate of the Indian IT and ITES sector was around 20% in 2007.
With increasing deployments of such developments as service-oriented architecture (SOA), unified communications, cloud architecture and virtualization, IT has become increasingly integrated and complex. The IT support services industry in India has evolved, particularly in its business model, to acquire a global dimension leading to the development of the concept of global services.
There are various factors that have contributed to the growth of the IT sector in India:
- Highly progressive regulatory environment, with many state governments in India are offering incentives and infrastructure for setting up IT enabled services.
- One of the largest pool of English speaking professionals
- Indian programmers are known for their strong technical and analytical skills
- Highly evolved education system with emphasis on mathematics and science
All these factors have contributed to the meteoric rise of the IT sector in India. India is the preferred destination for many international IT giants who find it easier to establish their company here. The central and the state governments too play a major role in the growth of the IT sector. This has resulted in the creation of many IT hubs in India like Bangalore, Pune, Hyderabad and Chennai.
