The industry is poised for further growth in the year ahead. India is likely to face competition from countries like China, the Philippines, Mexico, Canada and Malaysia in this sector. The year 2006 saw the Indian IT sector registering a high double-digit growth, earning an estimated $40 billion in revenues with over 30 per cent growth. The contribution of the IT industry to India�s GDP has risen from a mere 1.2 percent during the year 1999-2000 to approximately 4.8 per cent during 2005-2006. Indian BPO (Business Process Outsourcing) companies are already serving many Fortune 500 companies. Indian firms like NIIT and Aptech have made their presence felt in the competitive Chinese and US markets.
There are many cities in India, which are riding the IT boom. Bangalore, the capital of Karnataka is undoubtedly the IT capital of India. It has earned the sobriquet � Silicon Valley of India.� Hyberabad, the city of Nizams is already being referred to as Cyberabad and is giving Bangalore a run for its money. Chennai, the capital of Tamil Nadu, Kochi in Kerala, Pune in Maharashtra and Gurgaon in Haryana are also emerging as IT hubs. A good infrastructure, friendly government policies, availability of technical manpower and convenient location has made IT companies make a beeline for these cities. The number of people employed in the IT and ITeS-BPO sector in India is estimated to have shot up from 284,000 in 1999-2000 to 1,287,000 in 2005-06, growing by over 230,000 in 2006 alone. The industry has also helped to create an additional three million job opportunities.
Reflective of the changing face of India, the IT and ITeS (IT-enabled Services) sector is destined to take India to the higher echelons of the global economy. It seems only the sky is the limit.
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