Explain the imporyance of the I . T. Industry.
Answers
The last decade in the global arena has witness a tremendous growth in the area of
information technology. Rapid advances in the technologies for communication media like
television, computer, internet, printing and publishing has enabled us to get prompt access to
required information. Information technology (IT) has become one of the most robust
industries in the world. It, more than any other industry or economic facet, has increased
productivity, particularly in the developed world, and therefore is a key driver of global
economic growth. The IT sector has emerged as a major global source of both growth and
employment.
IT Industry in the country has played a major role in placing India on the international map.
The Indian IT Industry mainly comprises of instance System Integration, Software
experiments, Custom Application Development and Maintenance (CADM), network
services and IT Solutions. According to the analysis done by the annual report 2009-10,
prepared by the Department of Information Technology (DIT), the IT-BPO industry was
expected to achieve a revenue aggregate of US$ 73.1 billion in 2009-10 as compared to US$
69.4 billion in 2008-09, growing at a rate of over 5 %. The report even predicts that the
Indian IT-BPO revenues may reach US$ 225 billion in 2020.