The Indian IT / ITES industry has been one of the great economic success stories in the history of India. An industry that didn’t exist 2 decades ago is now the toast of the nation and the envy of the world. It is arguably the most globalized sector of Indian industry and has created international benchmarks for technical supremacy and quality, proving to the world and to ourselves that Indian companies can compete globally and win against developed markets of the world. It has also demonstrated what can be achieved by unleashing the power of middle class, first generation entrepreneurship in India. The overwhelming majority of companies in this sector were started by entrepreneurs with modest backgrounds and very limited access to capital. In many ways, this industry has helped create the brand of “New India” and served as an inspiration for everyone else.
The Growth Story of IT in India:
The IT / ITES industry has played a key role in putting India on the global map and is now envisioned to become a US$ 225 billion industry by 2020.According to a research report published by National Association of Software and Service Companies (NASSCOM), ‘IT-BPO Sector in India: Strategic Review 2011,’ the sector is estimated to aggregate revenues of US$ 88.1 billion in FY2011, with the IT software and services sector (excluding hardware) accounting for US$ 76.1 billion of revenues. The report estimates export revenues to gross US$ 59 billion in FY2011 and contribute 26 per cent as its share in total Indian exports (merchandise plus services), employing more than 7 million employees.
Within exports, IT Services segment was the fastest growing segment, growing by 22.7 per cent over FY2010, and aggregating export revenues of US$ 33.5 billion, accounting for 57 per cent of total exports.
NASSCOM says that the domestic IT-BPO revenues excluding hardware are expected to grow at almost 16 per cent to reach US$ 17.35 billion in FY2011. Strong economic growth, rapid advancement in technology infrastructure, increasingly competitive Indian organizations, enhanced focus by the government and emergence of business models that help provide IT to new customer segments are the key drivers for increased technology adoption in India.
The data centre services market in the country is forecast to grow at a compound annual growth rate (CAGR) of 22.7 per cent between 2009 and 2011, to touch close to US$ 2.2 billion by the end of 2011, according to research firm IDC India's report published in March 2010. The IDC India report stated that the overall India data centre services market in 2009 was estimated at US$ 1.39 billion.
India will see its number of internet users triple to 237 million by 2015, from 81 million registered in September 2010, according to a report titled 'Internet's New bn', by the Boston Consulting Group (BCG). BCG said Internet penetration rate in India is expected to reach 19 per cent by 2015, up from the current seven per cent.
Careers in IT/ ITES Industry:
Over the past decade, the Indian IT-BPO sector has become the country’s premier growth engine, crossing significant milestones in terms of revenue growth, employment generation and value creation, in addition to becoming the global brand ambassador for India, the Indian IT-ITES industry is India’s largest employment generator in the organized sectors of today, creating jobs for over 7.5 million people both directly and indirectly, and as per Nasscom research this figure is expected to cross 12 million by 2011.
The Opportunities ahead for MBA (IT) graduates of ISITM:
- Business Analyst
- Technical Product Manager
- Project & Program Manager
- Marketing Manager
- Solution Architect (Techno Functional)
- IT pre sales Manager
- Account Manager (Delivery)
- Business Development Manager
- Corporate Communications Manager
- Research Analyst
- Senior Software Developer
- Senior Testing Engineer
- Development Lead