what do u understand by it ites industry????
Answers
Introduction
The global sourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. India is the leading sourcing destination across the world, accounting for approximately 55 per cent market share of the US$ 185-190 billion global services sourcing business in 2017-18. Indian IT & ITeS companies have set up over 1,000 global delivery centres in about 80 countries across the world.
India has become the digital capabilities hub of the world with around 75 per cent of global digital talent present in the country.
Market Size
The IT-BPM sector in India stood at US$177 billion in 2019 witnessing a growth of 6.1 per cent year-on-year and is estimated that the size of the industry will grow to US$ 350 billion by 2025. India’s IT & ITeS industry grew to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19 while domestic revenues (including hardware) advanced to US$ 44 billion. IT industry employees 4.1 million people as of FY19.
Spending on information technology in India is expected to reach US$ 90 billion in 2019.
Revenue from digital segment is expected to comprise 38 per cent of the forecasted US$ 350 billion industry revenue by 2025.
Investments/ Developmen
Indian IT's core competencies and strengths have attracted significant investments from major countries. The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 39.47 billion between April 2000 and June 2019 and ranks second in inflow of FDI, as per data released by the Department for Promotion of Industry and Internal Trade (DPIIT).
Leading Indian IT firms like Infosys, Wipro, TCS and Tech Mahindra, are diversifying their offerings and showcasing leading ideas in blockchain, artificial intelligence to clients using innovation hubs, research and development centres, in order to create differentiated offerings.
Some of the major developments in the Indian IT and ITeS sector are as follows:
Total export revenue of the industry is expected to grow 8.3 per cent year-on-year to US$ 136 billion in FY19.
UK-based tech consultancy firm, Contino, has been acquired by Cognizant.
In May 2019, Infosys acquired 75 per cent stake in ABN AMRO Bank's subsidiary Stater for US$ 143.08 million
In June 2019, Mindtree was acquired by L&T.
Nasscom has launched an online platform which is aimed at up-skilling over 2 million technology professionals and skilling another 2 million potential employees and students.
Revenue growth in the BFSI vertical stood at 6.80 per cent y-o-y between July-September 2018.
As of March 2018, there were over 1,140 GICs operating out of India.
PE investments in the sector stood at US$ 2,400 million in Q4 2018.
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The Information Technology-Enabled Services (ITES) industry provides services that are delivered over telecom or data network to a range of external business areas. Examples of such business process outsourcing (BPO) include customer service, web-content development, back office management and network consultancy etc.