Indian IT steadily growing all the way up!
Hello everyone,
We know that India is known for IT hub and for the quality human resources. But apart from migrating to another nation to get a job or getting settle down,this time Indian IT companies did some magnificent work which will about to repay Indian IT sector a good value. Around the globe , IT has been rising up and booming all the way. Same thing is happening in India ,
Around $50 billion worth of contracts has been signed up and their works are in progress.
Major parties that are involved in this contracts are from European Nation. 196 total deals has been granted which makes the value goes up to $54 billion. This also shows that a large scope of IT is still present in India . About 196 IT deals worth more than $100 million each, and adding up to $51 billion, are coming up for renewal in 2018. Of these, some 12 are multi-billion-dollar deal the largest of which is Siemens $7.2-billion contract with French IT giant Atos, according to research firm Everest Group.
Two Factors
As in previous years, this is an opportunity for Indian IT firms that have been steadily increasing their share of global outsourcing contracts.
Also, the opportunity for Indian IT sector is rising because many of the large deals today are being broken up into smaller contracts which ended up as small developing firms.
IT Sector
The global sourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. The global IT & ITeS market (excluding hardware) reached US$ 1.2 trillion in 2016-17, while the global sourcing market increased by 1.7 times to reach US$ 173-178 bn.
Government report says that...
India remained the world’s top sourcing destination in 2016-17 with a share of 55 per cent. Indian IT & ITeS companies have set up over 1,000 global delivery centres in over 200 cities around the world.
A look in Future...
The Indian IT market currently focuses on providing low-cost solutions in the services business of global IT. The presence of Indian companies in the product development business of global IT is very meager, however, the number is slowly on the rise. The other prominent trend is that IT jobs, once confined to Bangalore, are slowly starting to experience a geographical diffusion into other cities like Chennai, Hyderabad and Pune. According to Google estimates, the Indian community of developers will be the largest in the world by 2018
Conclusion
The report shows that IT sector of India is on peak and will increase the job opportunity inside the national.
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