Information & Communication Technology
Global ICT industry is estimated to be nearly around US$ 4 trillion in 2015 where India has generated revenue worth US$ 146 billion during the same period. IT exports account for roughly two-third share in industry’s revenue in India and makes it world’s largest sourcing destination of IT services. The USA is the largest export destination of Indian IT products & services, followed by European countries and other developing countries.
India has emerged as the fourth largest new IT business hub in the world and home to over 3,100 tech start-ups, which is expected to triple by 2020. Availability of skilled and english speaking workforce has been a major reason contributing towards India’s emergence as a global outsourcing hub. Though ICT sector is growing across all its domains like IT/ITes, BPO, Electronic Hardware & Telecommunication Technology, the growth is largely observed in the software services and telecom services.
Economically viable and competitive manpower has been vital for the Indian ICT industry to grow as a global IT sourcing and business destination. Besides export market, an increase in IT adaptiveness among Indian business and non-business houses, including micro and small units is important to develop a sustainable domestic market for the industry. This cost and time saving industry needs to be introduced in more pro-active manner to increase its reach among the potential millions of non-ICT users in India and the developing world.