22 Jul 2022
Booming Information Technology at Patparganj Industrial Area in Delhi NCR.
One industry that has put India on the global map is the Information Technology sector. This USD $200 billion sector comprises some of the world’s best Software Companies and
IT Services Companies. The Information Technology industry in India is very vast, it comprises IT services, consulting services, and outsourcing. India's IT Services industry was born in Mumbai in 1967 with the establishment of Tata Consultancy Services[16] which in 1977 partnered with Burroughs which began India's export of IT services.
The IT sector is expected to become a USD350 Billion sector by 2026.
IT companies are not only revenue and foreign exchange earners for India, but Information Technology Companies are also creators of jobs. A NASSCOM report says that IT Companies, Software, and IT Services companies that form an integral part of this sector added 4.5 lakh new jobs to take the overall direct employees to 50 lakh people in 20-21. According to the same report Export revenues grew 17.2 percent to $178 billion, while domestic revenues grew 10 percent to $49 billion. Information technology companies contributed 9% to the national GDP and accounted for 51% of services exports.
The two years of the pandemic actually had a silver lining for the IT Companies as more and more of the Indian industry adopted digital means to stay connected with their customers, suppliers, and the marketplace. Adoption of IT services by companies for managing online financial services also resulted in growth in the Information Technology sector. According to the market research firm, the International Data Corp, the Indian information technology (IT) industry grew 7.2% year-on-year in 2021, higher than the 5.3% rise seen the previous year. In the post-pandemic era the high acceptance and deployment of new technologies such as cloud platforms, artificial intelligence (AI)-based services, and cyber security, will see the Indian IT sector grow even further.
The government of India has taken major initiatives to promote the IT sector. It has taken steps towards the development of technology solutions to enable citizen services. The government has focused on cyber security, hyper-scale computing, artificial intelligence, and block chain. Indian TSPs are providing mobile data at INR 6.7, the cheapest globally. India has the second-highest number of internet subscribers in the world. In terms of foreign investment FDI inflow, this industry attracts the second-highest FDI. For setting up Global Capability Centres (GCCs), India is the first choice. Indian IT firms are capable of providing both off-shore and on-shore services to global clients. This has offered a pool of new opportunities to the top IT firms. Indian IT & business services industry is expected to grow to US$ 19.93 billion by 2025.
The Patparganj Industrial Estate situated in Delhi and Delhi NCR hosts a wide range of information technology companies. These companies provide a wide range of software solutions and services. It includes Cyber Forensic Software Digital Grounding Solution Open-Source Intelligence, Market Research Services, Survey Programming, Online Dashboards, Data Management, Advanced Analytics, etc.