Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Growth of IT Industry in India Opportunities & Challenges By: Abhishek Goyal Factor in favour of India • Abundant availability of skilled manpower • Reduced telecommunication and internet costs • Reduced import duties on software and hardware products • Cost advantages • Encouraging government policies Major categories • Software Development • Design of computer Systems • Networking technologies like 3G & 4G • Hardware • Multimedia • Cloud Computing Domains • Finance (Banks) • Telecom (Mobile) • Infrastructure etc. • Web – based Technology • KPO • Media and entertainment • Tele-communication • Retails • Online- selling (E-commerce) • Logistics Management • Supply chain Management • Biotechnology • Banking • Social Networking Areas for Growth • Exports • Employment • FDI (Foreign Direct Investment) Sources estimates • IT services will contribute over 7.5 % of the overall GDP. • IT Exports will account for 35% of the total exports with potential for 2.2 million jobs in IT by 2008-09. • IT industry will attract Foreign Direct Investment (FDI) of U.S. $ 4-5 billion. • Market capitalization of IT shares will be around U.S. $ 225 billion. Economic Progress •The share of India's IT industry to the country's GDP increased from 4.8 % in 2005-06 to 7% in 2008. •In 2009, seven Indian firms were listed among the top 15 technology outsourcing companies in the world. •In March 2009, annual revenues from outsourcing operations in India amounted to US$60 billion •Annual revenues is expected to increase to US$225 billion by 2020 Challenges • Globalization Effect • Threat from other countries • Erosion of profit margins • Impact of US economy • Sustaining of Quality Conclusion • IT industry needs to co-ordinate with the academic circles as well as other industries. • Better performance and improved productivity. • FDI flow should be Encouraging. • We need to be competitive. • Best resource utilization should be there. • India IT industry should expand its potential to other countries besides US Questions ? Thank you Contact: [email protected]