Besides the information received from the participating companies, the study has relied heavily on past reports and articles on relevant aspects of the industry. Specific examples and case studies of member companies which help illustrate the points being made in the report have been liberally used. However, equally signify-cant though not as tangible, has been the ripple effect it has created on the general economic environment in the national and international economic space. The industry has been the trigger for many "firsts" and has contributed not only to unleashing the hitherto untapped entrepreneurial potential of the middle class Indian but also taking Indian excellence to the global market.
Nikhil Shelke Member Level: Why is there such a boom in the IT industry in India currently? What is the salary of the IT professionals in India? How did the economic reforms in change the IT scenario in India? Answers to all such questions are answered in this article.
Read this article to get all the details regarding the IT sector in India. History of IT sector in India before Inimmigration laws in USA were modified and the restrictions on immigrants were reduced considerably.
As a result a lot of Indian professionals migrated for research opportunities in USA. India had a huge number of educated people and the education in India being in English, there was a large population of English speaking technically strong people in India.
Hence outsourcing of work started gaining momentum and this led to the huge boom in the IT sector in India, whose most of the work is exporting software and software services to the US and other overseas clients.
The job of TCS was to write software code for the Burroughs machines in Patni Computer Systems started developing software and providing services since the beginning of the company in At that time it was named Data Conversion Inc. InInfosys was founded by Narayan Murthy and his colleagues.
Infosys was completely committed towards providing quality software services and also developed an IT business model which was later followed by most of the IT companies in India. The Indian economy during this period was completely controlled by the Indian Government and there were strict restrictions and regulations for private business entities in India.
Hence there was no major growth in the IT sector in India till Economic reforms in and development of IT sector in India The Indian government had strict control over the private business entities in India before liberalisation of economy in Moreover, the wide area networks and internet lines were completely controlled by the central government.
As a result, the Indian IT sector was totally held back due to these restraints on the functioning of the software services providers. This corporation provided satellite links to major IT developers enabling them to transmit the work done in India directly abroad.
This reduced the costs incurred to the Indian IT companies as well as helped the clients in US trust Indian industries and go for outsourcing.
Manmohan Singh, introduced the major economic reforms in to solve the debt problem created during that time. As per these economic reforms the internation integration became possible. The huge restrictions on overseas business were lifted and foreign investments were welcomed.
As a result, the IT industry in India became free and the business of outsourcing would finally gain momentum with more and more clients and enterprises going for outsourcing of IT. Also, the inception of Windows and other user friendly operating services made the PC experience even more simple and less time consuming.
Coupled with development of high level programming languages like Basic, C and others, the Indian IT brains had the perfect platform to rise in the global arena. Fear of a complete breakdown of computer services, the US corporations outsourced all the equipment and upgrading work to Indians.
The task of rectifying the Y2K bug was thrown to the Indians and as a result the modification of all the codes and softwares, which were initially designed till a date of was to be edited and huge work was outsourced to the Indian IT industries.
The National Task Force, within 3 months, provided a detailed report on the Indian IT and technological industries with more than recommendations which would help improve the IT services in India.The Outsourcing History of India.
Although the IT industry in India has existed since the early s, it was the early '90s which saw the emergence of outsourcing. First, some global airlines began outsourcing their back office work to India—and then IT companies followed.
Some of the earliest players in the Indian outsourcing market. The automotive industry in India is one of the largest in the world with an annual production of million vehicles in FY (fiscal year) –16, following a growth of per cent over the last year.
The automobile industry accounts for per cent of the country's gross domestic product (GDP).
The Two Wheelers segment, with 81 per cent . Aviation Industry in India.
Introduction: Aviation is one of the greatest wonders of modern science. There has been tremendous growth in the field of both civil aviation and military aviation sector. India is presently among the top 10 civil aviation markets in the world. Direct Contribution to the Indian Economy The current and evolving role of IT/ITES industry in India's economy is well established.
The sector is proving to be the major growth pole within the services sector, which in turn drives several economic indicators of growth in the country.
July 16, Overview and the Origin of Indian IT industry. Posted in IT & ITES tagged bestbizx, Indian IT and ITES industry, NCP New Computer Policy, Origin and history of Indian IT industry at am by bestbizx. Information Technology (IT) sector in India is one of the rapidly growing sectors.
Banking in India, in the modern sense, originated in the last decade of the 18th leslutinsduphoenix.com the first banks were the Bank of Hindustan, which was established in and liquidated in –32; and the General Bank of India, established in but failed in The largest bank, and the oldest still in existence, is the State Bank of India (S.B.I).