The IT industry in India, boosted by offshoring, has created a new wave of entrepreneurs as well as having a major part in social and economic change, according to a report from NASSCOM.
The study stated that IT was now the largest employer in India's organised public sector. IT had also made socially relevant products and services available as well as involving itself in the training of workforce for technical and non-technical jobs.
IT was also said to have balanced regional development by spreading its business operations to smaller Indian towns. It had also made a contribution towards education, employability and health as well as encouraging better working opportunities for women.
The report found that IT had increased its contribution to India's gross domestic product (GDP) from 1.2 per cent in 1998 to 5.2 per cent in 2007. Export earnings were at $40 billion (20 billion) dollars, an increase of 36 per cent from 10 years ago. Direct IT employment has also increased 26 per cent in the last decade, with two million employed in 2008.
The study was done by NASSCOM, India's premier trade body, and will be released as part of an Indian leadership forum held in Mumbai. Although the results encouraged NASSCOM, it still felt there was some way to go before India became a real world player.
"While the IT industry has made a promising start, there is indeed a long way to go," said the chairman of NASSCOM Saurabh Shristava. "With the encouragement and support of its member companies, the application of its best practices, innovative strategies and the entrepreneurial spirit, it is on track to set an example that would encourage others to emulate and positively change the face of India."
IT PRO reported last month that Indian offshoring showed no signs of slowing down, with UK businesses flocking to Indian providers as they were much quicker when it came to customer service speed and convenience.
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