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The study of India’s IT sector

created Jun 30th 2022, 05:35 by narendrasingh23


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The exponential growth of the IT industry in India in the last two decades has changed the perception of the whole world about India's storehouse of knowledge and skills and powered economic growth. India's four large IT companies (TCS, Infosys, Wipro & HCL Tech) have employed more than 1 million employees. Analyzation of Indian IT industry is divided into three parts are performance, projected growth and job opportunities. The rapid growth of IT industry over the year our government had taken steps to empower the IT industry for example Digital India, Startup India and Make in India. Negative perception of this IT industry is the complexity of business systems in IT industry is one of the reasons for such a concern. Hence, the world seems impossible to move without IT sector now. It is a developing path and reserves well-paying jobs from the beginning itself. The IT industry is the backbone for our economy to prosper exponentially and to generate millions of jobs. The IT sector has increased its contribution to India's GDP from 1.2% in 1998 to almost 10% in 2019. India has become the world's largest sourcing destination for the IT industry. Indian IT companies have set up thousands of centers within India and around 80 countries across the world. India is the world's third-largest start-up across the world after US and China. Also India is expected to have 60,000 start-ups and 100 companies with valuation of over $1 billion by 2025.Top 10 IT companies in India 2021.
1. Tata Consultancy services is the largest IT company in India in terms of revenue. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. TCS is the largest company in India in terms of Market Capitalization. TCS is also listed on the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange) in India.
2. Infosys Established in 1981, Infosys is an NYSE listed global consulting.  One of the leading software companies in India. From a capital of US $250 to become US $11.8 billion (FY 19 revenues). It is one of the best IT company in India. The first IT company from India to be listed on NASDAQ.  
3. HCL technologies is one of the best companies in India. The company focuses on providing on Integrated portfolio of services underlined its Mode 1-2-3 growth strategy. Mode 1 encompasses the core services in the areas of Application, Infrastructure, BPO and Engineering and R&D services, leveraging DRYiCETM Autonomics to transform clients business and IT landscape, making them 'lean' and 'agile’. Mode 2 focuses on experience-centric and outcome-oriented integrated offerings of Digital & Analytics, IoT works, Cloud Native services and Cybersecurity & GRC services to drive business outcomes and enable enterprise digitalization. Mode 3 Strategy is ecosystem-driven, creating innovative IP-partnerships to build products and platforms business.
4. Wipro Limited: The company harness the power of cognitive computer, hyper-automation, robotics, cloud analytics and emerging technologies to help clients adapt to the digital world and make them successful. It is one of the Indian IT companies recognized globally for its comprehensive portfolio of services. It is one of the best Indian IT company to discover ideas and connect the dots to build a better and a bold new future.
5. Redington India Ltd: The incredible journey has seen us emerge from one brand, one product category and one market into US $6.7 billion distribution and supply chain solutions provider to over to 220 International brands in IT.
India saw IT as an upcoming industry since 1990s India's IT sector revenues grew 15 times from the year 1990 to 1999. Market for software services grew exponentially by 2010 and the global outsourcing market was worth more than $100 billion by this time. Software exports from IT sector were 13% of India's total exports which kept growing in further years as well. By 2003, software exports from India accounted for almost 23% of India's total exports. In 1991, according to a World Bank Study India's share was almost to 11.9% and by 2019 India's IT industry stood at $177 billion. The export accounted to $136 billion, employing 4.1 million people. India is expected to have a digital economy of $1 Trillion by 2025.
IT sector in India was expected to grow 7.7 % in 2020 with its exports reaching $147 billion as per the National Association of Software and Services Companies (NASSCOM). Due to the pandemic, the industry had to take a step back in terms of revenue. Industry-wide revenue went down by 6% in Q2 FY20, according to NASSCOM. This was due to the lockdowns and falls in demand. The cloud based online services and work from home will be used to keep the business afloat. Gartner, a research company predicts that India’s IT market incomes expand by a CAGR  (Compound Annual Growth Rate) of 10% to reach $350 billion by 2025. Upcoming Technologies like Data analytics, cloud computing and machine learning will drive the growth of IT.
IT sector created 8.73 lakh jobs from 2015 till 2019 according to the Ministry of Electronics and IT (Meity). In the year 2019 employment in the IT sector reached 41.40 lakh jobs directly and 1.2 crore jobs indirectly, as was reported by  NASSCOM. The rural BPOs had 23,000 new jobs created in that year and electronics manufacturing added an additional 6.7 lakh jobs. A sizeable portion of the Indian youth in metropolitan areas are employed well with handsome salaries and perks in the BPO jobs. IT professionals have a great demand in the job market.
The current period marks The dawn of digitization in India and in order to keep the sun shining in a shining India, Indian government recently (July 2015) came up with the Digital India initiative. Using information technology as the tool, the program will provide digital infrastructure as a core utility to every citizen and empower them digitally. Startup India and Make in India adds to these aspirations and other than this the government launched 2 initiatives under the program including projects in the areas of digital infrastructure, digital empowerment, on demand government service and promotion of the electronics industry. The Atmanirbhar Bharat initiative of the current government is bringing big change in the IT sector. Earlier, the Hardware sector was somehow neglected. Now, manufacturing in India. The biggest step is to start manufacturing integrated chips (IC’s) in India, TATA has taken up initiative under Atmanirbhar Bharat and the first manufacturing plant is being set up in Tamil Nadu.
On the other side there are people who have doubts about IT career. The complexity of business systems in IT industry is one of the reason for such a concern. To grow and individual skill regularly is the out most important need in this arena. If at sometime it get untenable for one person to handle it, uncertainly creeps in. Better results are expected in shrinking budgets. Also, there can be more worry over outsourcing. For others, the inability to pursue skill growth may also prove to be a setback at some point.
The world seems impossible to move without IT sector now. It is a developing path and reserves well-paying jobs from the beginning itself. Job opportunities are quite high in many companies like Tata Consultancy Services (TCS), Wipro Technologies, Cognizant, Yahoo!, Google, Tech Mahindra and more. Also, India USA technology relationship has also been an important factor determining jobs in in IT market. Indian IT companies are also creating thousands of local jobs. Years to come bring more promise and push businesses to go for digitization and investment in IT infrastructure.  There will be a shift towards automation, cloudification, touchless and remote technology.  Industries revenue is predicted to rise by high with an average growth rate of about 8%, so are the jobs intended to grow.

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