IT / ITES
The Indian IT / ITES industry has been one of the great success stories of modern India. An industry that did not exist barely 2 decades ago is now the toast of the nation and the envy of the world. It is arguably the most global of any Indian industry and has created international benchmarks for quality, proving to the world and to ourselves that Indian companies can compete globally and win on quality.
It has also demonstrated what can be achieved by unleashing the power of middle class, first generation entrepreneurship in India.The industry has also played a significant role in transforming India’s image from a slow moving bureaucratic economy to a land of innovative entrepreneurs and a global player in providing world class technology solutions and business services.
Recognizing the advantages of multi-country service delivery capabilities to better manage evolving customer requirements and execute end-to-end delivery of some new services, Indian companies are enhancing their global service delivery capabilities through a combination of Greenfield initiative, cross-border M&A, partnerships and alliances with local players. Global software product giants such as Microsoft, Oracle, SAP, etc., have established their captive development centres in India.
Aggregate revenue for FY2012 is expected to cross USD 100 billion. Aggregate IT software and services revenue (excluding hardware) is estimated at USD 88 billion. Within Software and services exports, IT services accounts for 58 per cent, ITES is nearly 23 per cent and Engineering R&D and Software Products account for 19 percent. The industry continues to be a net employment generator - expected to add 230,000 jobs in FY2012, thus providing direct employment to about 2.8 million, and indirectly employing 8.9 million people