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Indian IT Market Leading the Worldwide Trend Toward Globalization
When it comes to digitization and automation of IT and technology services, the market in India is ahead of the curve. Fueled by government initiatives, massive growth of small to medium-sized businesses and a drive to embrace the Internet of Things (IoT) and M2M solutions, India is proving to be a shining example of the worldwide trend toward business globalization.
According to a recent article in ETTelecom, the Indian IT industry is worth a whopping $140 billion and is a dominant power in the global IT landscape. Market growth has largely been driven by digitization, the IoT and a friendly global entrepreneurial business climate. The government has also had a hand in growth with its Digital India initiative, and e-commerce growth has helped put the country on top of the global IT landscape.
According to Ganesh Ayyar, CEO and executive director of Mphasis, a Bangalore-based HP company offering a variety of IT services, growth is expected to continue at an astounding pace in the new year. "It is on a much larger base and the industry is expected to add $18 to 20 billion in revenue in FY2016,” said Ayyar. “The focus should be on how the Indian players can add more value for their clients using automation and innovation."
The Indian government is helping companies on that front, with its Digital India, Skill India and Startup India initiatives. All programs are designed to make digital services the primary mechanism for delivering services to citizens, with increased fiber and Internet connectivity for individuals and businesses. The government is also offering training to help citizens take better advantage of digital resources.
"We will have focus on four things - e-education; telemedicine having linkage of primary health centers with district hospitals; resource center as a virtual classroom including training in all gap areas; and LED light at the center of villages along with Wi-Fi," said Ravi Shankar Prasad, Indian communications and IT Minister.
India’s globalization efforts have certainly paid off, and IT giants like Microsoft and IBM (News - Alert) have announced plans to set up data centers in the country to meet domestic compliance and standard requirements.
Edited by Kyle Piscioniere