21st century is so far the most advance time humans have seen and experienced. The electronic age is what we currently live in. It can be defined as the time between 1940 and right now. And it’s only because of a revolutionary IT industry that have taken over the world by par. Information Technology as per say is not modern, because even in ancient time humans used to communicate via several things, but ever since Electronic approach has developed The potential and vastness of Information Technology has turned from huge to giant. In a recent time, the industry has seen a significant growth, thus making a huge demand of professionals and eligible employees.
Introduction and scenario of Indian IT Market:
India is world’s biggest sourcing destination for the information technology(IT) industry, Accounting for around 67 percent of the US$124-130 billion market. The industry employs about 10 million workforce, most importantly, The Indian industry has led the economic transformation of the country and altered the perception of India in the global economy.
India’s Cost competitiveness in providing It serviced, which is around 3-4 times cheaper than the US, continues to be the mainstay of its Unique Selling proposition(USP) in the global sourcing market.
However, India is also gaining prominence in terms of intellectual capital with several around the world IT firms setting in their innovation centers in India.
The Indian IT sector is most likely to grow at a rate of 12 to 14 percent for FY 2017-18 in constant currency terms. The sector is also expected to triple its current annual revenue to reach a total of US$350 billion by FY2025.
India ranks third among global start-up ecosystems with more than 4,200 startups.
India’s Internet economy is expected to touch Rs.10 trillion (US$146.72 billion) by year 2018, Accounting for 5 percent of the total country’s GDP. India’s Internet user base reached over 400 million by May 2016, the third largest in the world, while there are number of social media users grew to 143 million by April 2016 and smartphones grew to 160 million. Recent studies have proved India is not only competing with most world leading companies, but also emerging as a strong IT Nation, Indian recently crossed Japan in Service exports and only 2 percent away from taking over Australia as well.
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