An Introduction to IT Sector
AN INTRODUCTION TO IT SECTOR
A place (i.e. market/business/industry) where, similar type of products or services are provided is known as a sector. When the shared characteristics are based on information technology related products or services then it is known as information technology(IT) or information technologies enabled service (IT) sector. IT sector is a sector which provides services like software development, web consultancies, software management, online services and outsourcing for business related operations.
The information technology, IT sector is also comprised of companies that produce software, hardware or semiconductor equipment.
Information technology is all about storing, retrieving, transmitting, communicating and manipulating data. IT sector's main asset is Information which is collected and analysed on the basis of personalization and generalization of the user's data. Humans have been indulged in storing data in the form of manuscripts and artistic demonstration through centuries. with the evolution of technical era Information has became a biggest tool for operating tangible and intangible production.
Electronic data storage, was first used in modern computers in the time of World War II, when a form of delay line memory was developed to remove the clutter from radar signals.
INDIAN IT SECTOR
India's IT sector was formed in 1967 in Mumbai, with the formation Tata Consultancy Services (TCS), which then got into partnership with Burroughs. TCS (Tata Consultancy Services) started exporting IT services in the year 1977. The very first software hub was established by joint efforts of TCS and Burroughs known as SEEPZ ( Santacruz Electronic Export Processing Zone) it was an export manufacturing hub with an intra Customs clearance facility that provides the exporters to deliver their air and sea consignments well in time without any chaos. just for the record first IT park was established in 1973 in Mumbai and around 80% of software outsourcing was done through SEEPZ.
SERVICES AND PRODUCTS PROVIDED BY IT SECTOR
Some of the key product and services provided by IT sector are as follows-
1. Hardware equipments and counterparts for Computer related products are manufactured and provided by IT sector
2. Peripheral devices or portable attachments for Computing World is provided by IT and Technical embedded sectors.
3 Application softwares and paid licensing over application services are built and operated respectively through IT sector.
4. Devices which involves Semiconductor operations are also provided by IT sector.
5. Software related issues are dealt by IT sector
6. Web and network solutions are provided by IT sector
7. Interpretation of data and formation of statistical charts are done through IT sector.
8. Development of softwares, applications, websites are mostly done by IT sector.
9. Entertainment services such as games, videos, songs are also provided by IT sector.
10. Government related digital operations are also done by IT sector.
SCOPE OF IT SECTOR IN INDIA
Indian IT industry has great scope for both technical and non-technical graduates and has the capability to generate huge foreign exchange inflow for India. India exports softwares and Digital services to around 48% of the World. By outsourcing to Indian market for manufacturing related operations, many countries get benefits not only in terms of labour costs but also in Industrial business's margins . Also, the Indian companies are expanding the spectrum of services which are provided to the customers, which will result in more off shoring. Talent extraction and its sculpting is one of the initiative taken by the companies and have brought down the employee attrition rates, thereby providing more stability in terms of tenure of the employees and increase in the job commitment. Indian IT industry is going to for many years as per the historical data of IT sector's performance. Companies like TCS, Wipro and Infotech have contributed and are still contributing in providing job opportunities to young and skillful Indians.