Computers - Software industry

In the present scenario most of the countries over the world have relied upon Indian software company and firms or Software Companies for the software development activities, as the country possesses a global competency in the IT sector. The Software companies is witnessing a rapid growth and offers lucrative job opportunities making IT a premium career option for the youth. In fact it is one of the fastest growing sector of Indian industry. One can sense the growth by knowing the fact that the ITES sector ot IT industry hiring people even in the recession scenario.

Indian Software Industry is estimated to be worth USD 1.2 billion. Unfortunately the growth has been limited to a few cities around Bangalore, Mumbai, Delhi and Noida. and further its likely to spread over other parts of the country.

One problem that software companies in India are facing is that of outflow of IT professionals. This can be looked into by ensuring the conditions for investment and growth in the industry are safeguarded by political stability. If the outflow of IT professionals is safeguarded, this industry will outshines everyone. In many of the leading software firms, most of the working professionals are Indians.

The Software Industry, which is a main component of the Information technology, has brought tremendous success for the emerging economy. With the rise in Engineering students, this industry not only provided employment to the youth, but also a helping hand in boosting the development of the country. The services contribute the maximum in the GDP of India.

India's young aged manpower is the key behind this success story. Presently there are more than 500 software firms in the country which earned some name in the world market.


The above chart predicts the rise in the IT industry of India. The industry rises very fast.

When it is compared with other countries, Indian IT industry again a way ahead of the other leaders.
The NASSCOM - McKinsey report on India's IT industry:

• Software & Services will contribute over 7.5 % of the overall GDP growth of India
• IT Exports will account for 35% of the total exports from India
• Potential for 2.2 million jobs in IT by 2008
• IT industry will attract Foreign Direct Investment (FDI) of U.S. $ 4-5 billion
• Market capitalization of IT shares will be around U.S. $ 225 billion
  

Why I am interested in this Industry:

Being a software engineer I know, what Indian IT industry is capable of. During the recession also IT industry earned profit. Yes, we are all aware of the fact that mainly in India IT industry depends on outsourcing, and when their is now projects from the big economies, the IT industry in India have to see the slowdown, but this gives a chance to the IT players to search new markets for the industry, and the industry started looking for new markets in Asia. Also the top leaders in the IT sector only contributes 10% services to India. so in coming years they can play an important role in the Indian market too. Another thing which might ignite from this recession hit time is that, Indian industry may start making products instead of providing services.

So for the investors there is vast opportunity to invest their money and get great returns. Also the government is started making an effort to save the investors money by regularly monitoring the funds transfers in IT giants after the Satyam scam.