The Boom in the IT Sector in India
Today, there are a number of children in America who no longer take the help of their family for help with their homework! All they need to do is get on the internet and go to an e-tutoring service, which is based out of India’s IT hub – Bengaluru. This is just one of amongst the infinite number of examples that are a part of the boom in the IT sector in India. Going back to the homework, the children profit immeasurably with respect to their studies and this change is seen in their classrooms. Such is the case with all the different services offered by IT companies in India. The end user profits and that too at affordable rates!
The IT Services Revolution
In India Bengaluru city is the silicon valley of India. India has been in the throes of an IT revolution for a very long time now and the bubble has not yet burst. It keeps changing the face of India, and keeps affecting the world of business through it new technological advancements, day-in and day-out. There was a time very many years ago that the only thing that could be traded across border would be goods. Services could not be imported or exported as they were not tangible things and thus services of any country had no pressure from international competition. In Bengaluru city you will find companies in almost every street.
However with the arrival of the internet, every aspect of business was affected and very quickly services emerged as one of the fastest-growing sectors as far as international trade is concerned. Countries like India began offering low-cost services and the advantage of an increasing talent pool, to big companies, who saw the innate benefits of outsourcing their services to India. They realized that it was infinitely cheaper to outsource IT jobs like support, accounts, and payroll management etc to India.
Even in today’s recession time people are moving to Bengaluru to explore the various opportunities available there. Business Process Outsourcing and Knowledge Process Outsourcing companies have become the key drivers of the IT boom in India.
The Indian Advantage
There are quite a number of reasons that have contributed to the boom in IT sector in India. One of the foremost reasons for this is the tremendous amount of workforce, most of whom are well-versed in the English language. English as we all know is the language of business. Moreover, all major cities in India have well-etched internet connectivity and the international data communications links are reliable and efficient.
Another big reason for the boom in IT sector in India is that the wages of IT professionals are far lower than those of their counterparts in Europe or the United States of America. However, it cannot be denied that all these reasons and advantages would have come to naught if the government of India had not pushed forth reforms in this sector and welcomed foreign investment in all the sectors of the Indian economy. In south India Bengaluru & Hyderabad are the IT hubs and in north India Gurgaon, Delhi, Noida are the IT hubs.
Today, there are very little or no barriers to the growth of any kind of industry in India, leave aside the IT industry. Every year, the number of companies who want to use India as an IT hub is increasing and it is estimated that this trend will continue for very many years to come.