Writer a note on IT sector in India
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India's IT Services industry was born inMumbai in 1967 with the establishment of the Tata Group in partnership with Burroughs. ... The Indian IT and ITeS industry is divided into four major segments – IT services, Business Process Management (BPM), software products and engineering services, and hardware.
Information Technology in India is an industry consisting of two major components: IT services and business process outsourcing (BPO).[1] The IT industry accounted for 8% of India’s GDP in 2020.[2][3] The IT and BPM industry’s revenue is estimated at US$194 billion in FY 2021, an increase of 2.3% YoY.[2] The domestic revenue of the IT industry is estimated at US$45 billion and export revenue is estimated at US$150 billion in FY 2021.[2] The IT–BPM sector overall employs 4.5 million people as of March 2021.[4] The Indian IT–BPM industry has the highest employee attrition rate.[5][6][7] As a global outsourcing hub the Indian IT industry is infamous of exploiting cheap labour.[8][9][10] As IT–BPM sector evolves, many are concerned that artificial intelligence (AI) will drive significant automation and destroy jobs in the coming years.[11][12] The United States accounts for two-thirds of India's IT services exports.