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The Current Standing of Indian IT Industry

Updated on July 14, 2015

The Information Technology is one of the engines of economic growth as well as job growth in India. The finance ministry has also addressed the concerns of the $150 Billion Indian Information Technology Industry. There were certain concerns put forward by the National Association of Software and Services Companies In India (NASSCOM), as a result, the witholding tax rates for payments, royalties and services fee, will help IT and BPO industry to offer services with the help of latest tools and technologies. Also, the Make in India campaign, is projected to give boost to the IT industry, both directly and indirectly.

Non-Financial Benefits

Some of the non-financial benefits passed on to the IT industry by the Ministry of Finance included; raising of global capital, incubation facilities in centers of excellence, seed capital and funding for growth, and ease of doing business, all these reforms would not only help to generate revenues in billions of dollars, but will also foster IT jobs creation.

One of the positive developments which industry experts say, will lead to job growth, is the nod to the start-up ecosystem, reduction of taxes on R&D, innovation investments to facilitate technology transfers and incentives for those companies which concentrate more on innovation.

Industry Forecast

As per a recent report, the current Compound Annual Growth Rate (CAGR) of the industry stands at 12.3% which was recorded during, 2010-2014 and reached USD 74.2 Billion in 2010 to USD118 Bilion in 2014.

As of now, for the period 2014-2018, the industry is expected to reach a CAGR of 13.6% with an estimated worth of USD 196.7 Billion in 2018 compared to USD 118 Billion in 2014.

This is the result of the revival of global economies after the global economic meltdown which has led to a wave of positive sentiment and has led Indian IT giants to rebuild and re-position themselves to keep up with the current opportunities and the one's which are yet to surface.

IT companies are now more focusing on Business Intelligence, Collaboration and Customer facing technologies. IT companies are aiming to develop strategic alliances with business partners and global customers, throughout the globe.

Current Standing of the Industry in Q2

India facing stiff competition in BPO business from nations like Philippines and China have managed to leave them behind on all metrics. As a consequence of positive economic outlook and a wave of improved business environment, Indian BPO industry has managed to translate business prospects into opportunities which have led to growth potential in the Q2.

As for computer hardware sales, which has risen to INR 1.52Trn in 2015 as compared to that of 2014, which was reported at INR1.39 Trn. Tablet sales are expected to rise in the 2015, whereas, notebook sales volume has emerged as major growth drivers.

Software sales also witnessed an upward trend, with INR 273bn in 2014 rising up to INR 312bn in 2015, is a positive development for those IT companies who deal in software development and services.

Indian eCommerce Industry Statistics

Source

The Changing Landscape

The Boom in the eCommerce industry has led to a new generation of IT jobs, which allow an IT professional to break the monotony, and work in an environment that pro-lifers innovation and creativity. Professionals who were stuck in the rut of sedentary and monotonous desk jobs in IT are now seeking opportunities in eCommerce and SaaS companies.

The start-up ecosystem allows an IT professional to not only make use of their skills, but also, allows them to exploit their creative potential and their ability to innovate, for creating cutting edge technology driven tools, that add high value to a business.

IT jobs in this budding industry are not only a means for IT professionals to seek employment opportunities, but is also a platform, to groom themselves as entrepreneurs and emerge as domain experts, with greater recognition in the industry, which, as of now is not present in the mainstream IT sector.

Working in the start-up ecosystem, helps an IT professional to build a deep sense of achievement and job satisfaction, which is unmatchable to that offered by conventional IT companies. Hence, one can see a large influx of IT professionals seeking IT jobs in this nascent job domain.


IT-BPO Industry in India

Source

IT - BPO Sector

IT jobs are not meant for individuals with education in computer science or information technology, The sub-domain of IT called as the Business Process Outsourcing(BPO) industry, does create lucrative job opportunities for fresh graduates as well as seasoned professionals, from several domains.

3/4th of the revenues generated by this sector arise from the exports. The BPO sector of India has moved up the value-added ladder. Indian companies are now hiring skilled labour for a high volume of quality output. Call centers and accounting services, remain the leading business functions pursued by companies, followed by, data analysis, data management and legal services, which are now moving further up in the value-add chain of this industry.

As per NASSCOM, this sector has provided direct employment to 2.8 million and 8 million are the one's who are associated indirectly with this sector.

The domestic IT market is also increasing along its length and breadth. As of 2012, the domestic market size was around INR 918 Billion, which only included BPO services. INR 589 Billion was generated by IT services, INR 149 Billion from BPO and INR 180 Billion from software products.

Leading Companies for IT Jobs

Leading IT-BPO Exporters
Leading BPO Firms
Leading IT-BPO Employers
Tata Consultancy Services Ltd
Genpact India Pvt. Ltd.
Infosys Ltd
Wipro Ltd
Tata Consultancy Services BPO
Cognizant Technology Solutions India Pvt Ltd.
Mahindra IT & Business Services
Aegis Ltd
Wipro Ltd.
MphasiS Ltd
Wipro BPO
HCL Technologies Ltd
iGate
Firstsource Solutions Ltd.
Mahindra IT & Business Services
Larsen & Toubro Infotech Ltd
Aditya Birla Minacs Worldwide Ltd.
Genpact Ltd.
Syntel Ltd
WNS Global Services (P) Ltd
Serco Global Services
CSC, India
Infosys BPO
Capgemini India Pvt. Ltd.
Polaris Software Lab Ltd
Serco Global Services Ltd
Mphasis Ltd.
MindTree Ltd
EXL Services
Aegis Ltd.
Zensar Technologies Ltd
Hinduja Global Solutions Ltd
iGate
Infotech Enterprises Ltd
HCL Technologies Ltd. - Business Services.
Firstsource Solutions Ltd
Hexaware Technologies Ltd
Hero Management Service Ltd
WNS Global Services (P) Ltd
KPIT Cummins Infosystems Ltd
Mphasis Ltd
CSC, India
Honeywell Technology Solutions Lab Pvt Ltd
Syntel Ltd
Syntel Ltd
NIIT Technologies Ltd
 
exl Services.com (India) Pvt. Ltd.
3i Infotech Ltd
 
Hinduja Global Solutions Ltd
Infinite Computer Solutions (India) Ltd
 
L&T Infotech
 
 
Convergys India Services Pvt Ltd.

Conclusion

This hub has been constructed around the current positioning of the IT industry in the economy. As well as the developments in the domain of BPO and Start-up ecosystem has been shared, which will allow you to focus your IT jobs search, based on the insights, to a particular segment of the IT jobs landscape. This sector has been growing since its inception and has the potential to take the economy on an upward curve of growth, along with opportunities that are driven by innovation and creativity.

The reforms and campaigns to develop smart cities and bring in EGovernance in the country has given a new lease of hope to IT professionals, who are now looking out for opportunities that help them develop skills and expertise in domains, which were earlier confined to developed nations.

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