Date of submission: 12/07/2012
Background information about IT sector:
Indian IT industry is one of the key industries to contribute its significance in the growth variables of GDP of India, exports, revenue and employment. India’s IT software and services exports have been rising rapidly. The annual growth rates range between 20-20-22% in IT services and near about 55% in IT, IT enabled services (ITES) such as call centers, Business Process Outsourcing (BPO) and other. IT industry is spreading its services in various sectors as airline information, insurance, banking sector and mortgage companies. This sector has also led to employment generation. Direct employment in the IT services and BPO/ITES segment was 2.3 million in 2009-10 and is estimated to reach nearly 2.5 million by the end of financial year 2010-11. Indirect employment of over 8.3 million job opportunities is also expected to be generated due to the growth of this sector in 2010-11. Generally dominant player in the global outsourcing sector. However, the sector continues to face challenges of competitiveness in the globalized world, particularly from countries like China and Philippines. India's growing stature in the Information Age enabled it to form close ties with both the United States of America and the European Union. However, the recent global financial crises has deeply impacted the Indian IT companies as well as global companies. As a result hiring has dropped sharply, and employees are looking at different sectors like the financial service, telecommunications, and manufacturing industries, which have been growing phenomenally over the last few years.
The share of IT (mainly software) in total exports increased from 1 percent in 1n0 to 18 percent in 2001. IT-enabled services such as back office operations, remote maintenance, accounting, public call centers, medical transcription, insurance claims, and other bulk processing are rapidly expanding. Indian companies such as HCL, TCS, Wipro, and Infosys may yet become household names around the world. Today, Bangalore is known as the Silicon Valley of India and contributes 33% of Indian IT Exports. India's second and third largest software companies are head-quartered in Bangalore, as are many of the global SEI-CMM Level 5 Companies. Mumbai too has its share of IT companies that are India's first and largest, like TCS and well established like Reliance, Patni, LnT Infotech, i-Flex, WNS, Shine, Naukri, Jobspert etc. are head-quartered in Mumbai. And these IT and dot com companies are ruling the roost of Mumbai's relatively high octane industry of Information Technology. Such is the growth in investment and outsourcing, it was revealed that Cap Gemini will soon have more staff in India than it does in its home market of France with 21,000 personnel+ in India. On 25 June 2002 India and the European Union agreed to bilateral cooperation in the field of science and technology. A joint EU-India group of scholars was formed on 23 November 2001 to further promote joint research and development. India holds observer status at CERN while a joint India-EU Software Education and Development Center is due at Bangalore. -------------------------------------------------
Major IT Hubs
Ranking| City| Description|
1| Bangalore| Popularly known as the capital of the Silicon Valley of India is currently leading in Information Technology Industries in India.| 2| Hyderabad| Hyderabad called as Cyberabad. Hyderabad is the head-quarters of Microsoft...