This ever evolving industry is expected to clock revenues of USD 225 billion by 2020 while the number of internet users is expected to triple to 237 million by 2015 according to a report by NASSCOM which clearly indicates the pace at which this industry is growing. Growth in the Indian information technology (IT) in the world market is primarily dominated by IT software and services, including system integration, IT consulting, application management, custom applications, infrastructure management, software testing and web development. Competitive factors such as skilled workers, adequate telecommunication networks, and an improving policy and regulatory environment have enabled both domestic and foreign firms to rapidly expand in the internationally competitive IT services sector. In contrast, the IT hardware segment has lagged and has focused very largely on the domestic market, which remains heavily dependent on imports of components and finished IT goods.
India has since long been a preferred destination for global organizations looking to offshore their IT and back office functions primarily due to the cost advantage and the abundance of skilled professionals, and the share of the Indian technology space is set to become larger by FY 2012 with more Indian companies vying for larger shares in the foreign markets like the US.
To adapt to the ever expanding requirements of this industry, the companies today need an efficient workforce and efficient talent management and talent retention capabilities to cater to the needs of this highly volatile space.
Scope of Practice:
- Digital Business and Software
- Systems and services