IT & ITES
India has a reputation for being the world’s largest sourcing destination for the information technology (IT) industry, accounting for approximately 52 per cent of the US$ 124-130 billion market according to a report published by the Ministry of External Affairs. The prominent status accorded to the industry makes it as close to invulnerable as possible, as evidenced by its grit in the face of the recent global economic slump.
The IT sector can be divided roughly into four major segments, namely:
- IT services
- Software products and engineering services
- Business process management
The IT and ITeS sector has always been a generator of employment and continues to provide jobs. The advent of online shopping, social media and cloud computing in recent years, too has created an increasing demand for IT professionals in e-commerce and to cater to the business of consumer firms. The Twelfth Five Year Plan (2012-17) issued by the Department of Information Technology proposed to strengthen existing infrastructure projects increasing connectivity, build redundancy connectivity, undertaking of energy audits of State Data Centers (SDCs) etc. The internet is slowly increasing its grip on our lives and is considered by 87% of Internet users in the country to be an indispensable human right.
Efforts are being made both by the government as well as private parties to make the internet a household phenomenon and extend its availability all over the country, including rural areas, thus allowing people to gain access to a multitude of opportunities and rise out of poverty.
The complex and separate set of laws governing this sector often act as a stumbling block to entities governed by them. A significant amount of the Industry’s work is attributable to outsourcing of jobs by other countries, unable to match the lower cost of skilled labour provided by India. However, with global economic turmoil, the citizens of those countries have begun to rebel against the practice and the work outsourced. Efforts must be made to take steps to protect against such problems.
We offer a guiding hand to help tread these unknown paths and to work towards continuing prosperity, working hard to always serve our clients’ best interests and providing you with an ever ready and knowledgeable source to advise our clients in this and any associated fields.