Hey! Geeky fellow, I've got another interesting article for you. It has got every inch of information on the "Information Technology" industry in INDIA. The article has also covered, behind the scenes of the exponential growth of the IT sector and its contribution to the GDP of the nation. You also get clear ideas on the working and processes of IT Companies. You will also come across the names of major Indian IT sector companies and will see how this industry is synonymous to the future of modern India. So, let's begin the ride!
Role of IT Sector in INDIA
The IT or "Information Technology" industry refers to the companies that work in software and hardware production and provide internet related services. This industry has two major components namely, IT services and Business process outsourcing (BPO). Indian IT industry has witnessed unmatched growth within a short time of only around 10 years. There is no doubt that, IT-BPO sector has emerged as one of the pillars of the modern Indian economy.
Contribution in GDP of INDIA
The IT industry in India is advancing at an alarmingly fast rate. As per reports, IT sector's contribution to India's GDP jumped from around 1.2% in 1998 to approx. 10% in 2020 and is exponentially growing on a year-on-year basis. The revenues generated from IT companies are at approx. $190 billion and is estimated to reach a whopping $350 billion by 2025.
The info-tech sector in India attracted Foreign Direct Investment (FDI) worth $44.91 billion between April 2000 and March 2020 as per reports by the Department for Promotion of Industry and Internal Trade ( DPIIT).
Job opportunities in IT industry
Along with soaring GDP, the IT industry has also contributed significantly in generating massive employment opportunities. This sector alone, has generated over 4 million jobs and provided indirect employment to 10 million people. It offers white collar job titles like business analyst, network engineer, systems Engineering manager, technical operations officers, block chain engineer, cloud architect and a million more. Thanks to the IT Giants of India, because TCS ( Tata consultancy services) has generated over 4 lakh professional jobs while another IT major, Infosys pays over 2 lakh employees. The Government of INDIA extends full support to the IT industry by rolling out incentives and setting up massive funds. India is also emerging as the hub for "digital skills" because the government spends around $1.6 billion annually on training the workforce in the info-tech sector. These factors are collectively helping the IT industry grow at a larger rate.
TOP 5 Major Indian IT sector companies.
In today’s article, I shall enlist the top five Indian IT companies that are accomplishing milestones and are making the country proud on a global scale. These tech Giants are playing key roles in generating employments, and in developing digital infrastructure of the country. They must be credited for highs in the national GDP graph. Take a look at them:
1.)Tata consultancy services:
Tata consultancy services or TCS, established in 1968, is not only India's but the world's largest provider of IT services. TCS is India's biggest info-tech service provider company by revenue. As mentioned earlier,it employs around 4 million professionals over 46 countries and is the largest IT recruiter in India
over a decade.
2.)Infosys:
An IT company founded in 2981 by N.R Narayan Murthy with seven employees, is the second largest IT company in India, today. With over 2 lakh employees worldwide, Infosys reached a market capitalization of rupees 5 trillion.
3.) Wipro:
The third in our list, is Wipro with over 160,000 employees in 6 continents. Wipro was founded in 1945, making it one of the oldest Indian companies. It has recently invested in block chain technologies and is already working in fields like analytics, data science, machine learning etc.
4.)HCL technologies:
The company was founded in 1976 and is headquartered in Noida. HCL is a giant in manufacturing and supplying computer equipment and servers. It employs over 117000 people across 30 countries.
5.) Tech Mahindra:
The fifth on our list is Tech Mahindra, which was founded in 1986 and is a part of the Mahindra Group. The company employs over 110000 professionals working in more than 90 countries. It provides a wide range of IT services globally.
I curated this article after thorough research on IT sector industry. Hope you find this article useful. And thank you so much for giving it a read.