Growth of India’s IT sector
As the Indian economy opened up in the 1990s, an economic boom followed in the country. This economic boom was largely IT driven and thanks to this sector India can boast of being amongst the top ten fastest growing economies in the world.
While India always had a large and qualified workforce of engineering graduates and IT professionals, they used to prefer the greener pastures of the Silicon Valley and other foreign shores rather than dealing with the poor infrastructure at home. With the government stepping in to improve networking and other infrastructure by setting up IT parks all over the country and encouraging the IT industry by offering various sops, this trend of brain drain was soon arrested. In fact the current scenario is that of a reverse brain drain with not only NRIs heading back home but many foreigners also heading eastwards looking for better opportunities.
One of the areas in which India has become a market leader is outsourcing be it Business Process Outsourcing, Knowledge Process Outsourcing or the more recent Legal Outsourcing. Outsourcing is when a company hires a third party to perform its in-house tasks. This is usually coupled with off shoring which means the work is outsourced to another country. India’s large reservoir of computer professionals is not only fluent in English but can deliver quality output at a fraction of the cost of their western counterparts. This is one of the primary reasons for India being such a popular outsourcing destination. With companies rushing to get a slice of the ecommerce action, there has been a huge surge in websites being launched. This has led to companies who Outsource Web Development India so that they can derive the twin benefits of good work at low cost.
