The term INFORMATION TECHNOLOGY is referred as the pertinence of computer technology to perform various tasks such as to store data and information, to transmit information or to retrieve useful data in the conventional course of businesses and enterprises. The Information technology sector is the most vigorously hiking and bloating sector of the economy of India. The IT sector covers almost all the articulations of an economy. Information technology is said to be a useful and vital pillar of the economy in India.
The information technology sector in India is flowering and expanding over the years, and in the present era, this sector is blooming very brightly. The information technology sector is the broader view of computer networks, communication technology, television, hardware’s and software’s, internet and e-commerce. It includes all the aspects of computer-based technology and internet. The world today is transforming into a big digitalized economy, and the IT sector is proving to be the greatest stepping stone for the world to modernize into a digital platform.
The information technology sector in India consists of a large-scale industry indulged in IT services and many business process outsourcing agencies. The information technology has contributed to the GDP of India from 1998 to present. It has a big say in the economy and has flourished the growth of the economy in India. The concept of information technology is old and has continued to grow and expand over the years. The information technology sector has accorded the Indian economy with aggregate revenue of $160 billion in 2017. Indian IT exports are more than 60 percent in the United States of America.
History of Information Technology in India
The concept of information technology emerged in India in Mumbai in the year 1967, when the Burroughs came into a partnership with the Tata groups of industries. In 1973, SEEPZ(the first software export unit) was established in Mumbai and the country’s more than 80 percent of software exports were done with the SEEPZ in the late 80th century. With the various economic reforms in India in the year 1991, the economy of India underwent massive changes and moved towards a digital and modernized growth, due to which the information technology sector of the country became a vital area to be concerned.
The Indian national taskforce on information technology and software development was set up to look at the development and expansion of the IT sector in the country. With the establishment of this task-force, the IT sector was listed in the five major priority sectors of the country, due to which it sprouted in the economy. India is the second-largest IT exporter in the world economy and the domestic market of India also flourished with the landmark success of the information technology sector. India is said to be the hub of IT services. The IT sector in India has witnessed a remarkable boom and is progressing with flying colors until today.
Famous IT Nerve Centres in India
Some of the IT hubs of India are listed below.
- Bangalore- the silicon valley of India.
- Hyderabad (Cyberabad) – the Hitec city of India.
Pune – the IT park of India.
- Chennai – the hub of main research and development centers of the country.
- Mumbai – the place where IT sector of the country took birth with the Tata group of industries.
- The national capital region which includes Delhi, Gurgaon, and Noida.
The information technology sector of India is transforming the shape of standards of the Indian businesses through the various aspects that it comes with, such as software developments, consultancy services, business process outsourcing services and internet services. The information technology consists of all the activities of processing and managing of data and information. It is one of the most rapidly and fastest growing industries in the country. The IT industry has altered our lives to a great extent by providing so many blessings, and in the present, no one can live without it.
Benefits of the IT Industry to the Indian Economy
- The information technology sector has created the wealth of the country by attracting many foreign direct investments in our country.
- The IT sector has generated an abundance of jobs for people in the Indian economy creating opportunities for employment in the country.
- The IT sector has efficiently contributed towards the GDP of India over the years.
- One of the hefty blessings given by the IT sector is the remote accessibility; an individual can perform various tasks with just one click.
- The use of information technology in the field of education has changed the way to teaching and learning and made it more efficacious.
- The IT sector has contributed toward the globalization of the Indian economy.
- With the help of latest technologies in the IT domain, the processing of data and information is performed speedily and accurately.
The IT industries are amplifying with fast speed in India, shaping the Indian economy in a digitalized economy. It has sustained to be a fortune for the country, as, the information technologies has provided much betterment to the Indian economy and is continuing to breed. The future of the IT industries in a country like India is very bright and shining and it is expected that the new technologies and trends in the field of information technology will prove to be a ladder to development of the society and economic structure of the country.