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Information Technology
 

Information Technology (IT) is a crucial part of the Indian economy and has played a prominent role in establishing our economic prowess on the global map. The sector includes software solutions, hardware, IT services, engineering and R&D services and ITES (IT-enabled services). With a compounded annual growth rate of more than 50% between 1992 and 2001, the Indian software sector has expanded almost twice as quickly as the world-leading U.S. software industry did during the same period, although from a smaller base.
India’s software industry statistics illustrate the massive strides achieved by this sector and the opportunities the future holds. According to NASSCOM’s estimates for the fiscal year 2000-01, the country’s software industry is worth $8.26 billion, up from $100 million ten years ago. A study conducted by renowned consultancy firm McKinsey and Co., for NASSCOM, has proven why India is becoming the off-shore software development out-sourcer’s destination of choice. According to the NASSCOM-McKinsey study, the Indian software industry is expected to gross US$50 billion in exports in 2008! This is based on an average growth rate of 35 percent per year. The industry is well placed to achieve this target.
 














   
   
   

 
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