Brilliant Facet of Indian IT industry in 2014: Report

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The IT experts and researchers have concluded a comparatively prosperous year ahead for Indian IT industry. They are foreseeing the upcoming year to be better than this year 2013 for overall growth.

In this present phase, business & technology are going through a rigorous transformation that demands IT participants to keep pace with it. It is an inescapable requisite to extend higher standards of technology to the consumers and keep providing them more and more computing power in their devices at every next step.

As it is said, the modern mobile devices are bestowed with more computing powers than those devices which NASA astronauts took to moon in 1969. There are various aspects of today’s mobile devices that make them smarter than various previously existing technologies.

But, the IT industry will still required keeping on upgrading the efficiency and smartness of their devices for consumers. As defined by the giants, the 108 billion dollar Indian IT industry will require answering the language of business along with the rapidly changing technology. The IT enterprise will have to intelligently cultivate revenues on these two factors.

Indian IT industry has created various benchmarks and achieved a higher stature in the globe. It is now recognized and established as an IT powerhouse comprised of a rich ecosystem of IT service providers.

The Indian IT ecosystem houses both national and multinational service providers combing massive tech workforce throughout the cities. The Indian house of Global Inhouse Centers (GIC) also combines various giant enterprises like American Express, HSBC, Diamler Chrysler, ABB, Caterpillar and lots more. These enterprises comprises of a strong IT and business process services workforce in India. Plus, there are various other IT segments of companies from other regions in India.

With this, Indian IT industry employs about 2.24 million IT resources, which is vigorously growing.

According to analysis and reports, Indian IT industry has reached a good level, but it’s time to step forward to next level. For this, we require incorporating new policies and upraised vision to push it forward. Or otherwise, it will begin declining. It has been concluded by analysis that this form of decline will be comparatively more rapid with other countries like China.

However, lack of government support is the biggest factor in this case. The Indian government needs to enhance focus towards uplifting Indian IT industry. Although, the STPI scheme which was later replaced with SEZ scheme was a part performed by the government, but this isn’t enough. The Indian IT industry strongly needs some bold measures that would address the fundamental issues. There are some opportunities that Union Budget can offer. Plus, Indian government can also simplify corporate tax system and keeping the norms transparent and clear.

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