This sector comprises software development, consultancies, software management, online services and business process outsourcing (BPO). In recent years, with a boom in this sector, it was the world of marvels which was promised by the brilliant technological creations. A revolution invariably added a vibrant background to the private sector, civil sector and academia.
“This industry has a noticeable impact in improving the productivity of almost every other sector of the economy, it has huge potential for further accelerating the growth, economic development and also has the potential for significant job creation in the long term”, said Mr. Ajit Nair, Executive Vice President, Progressive Infotech.
Current Scenario of ITITseS sector
IT sector is regarded as a reliable source for providing essential support to the Indian Economy. The industry has contributed less than 5 per cent to the country's GDP, 10 years ago; but today it contributes nearly twice as much. The IT sector has also initiated 4 million jobs and provided indirect employment to 10 million.
About 200 Indian IT firms are present in over 100 countries. The Indian government has contributed incentives for the IT and ITeS sector and had encouraged the sector with lesser government intervention compared to other sectors!
India's unique selling proposition in the global sourcing market is in providing innovation besides cost efficacy in IT services, which is significantly more cost-effective than the US IT companies, while India IT companies continue to maintain the cost-quality matrix, in line with the global clients' needs and requirements.
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