Monday, January 14, 2008

IT at the heart of India's development

IT is indeed has been pivotal and certainly fueled India's recent growth, though significant yet latent contributions by other sectors can not be ignored. A nice perspective at how IT is helping India shine.

One of the pillars of modern India, and one the country is relying on to complete its transformation from an economic backwater to a global superpower, is its IT industry.

From humble beginnings the industry has grown beyond what anyone imagined 20 years ago. It is currently worth about US$47 billion, or about 5.4 per cent of India's gross domestic product, and is still growing at about 30 per cent per year. It employs 1.6 million people directly, and many more indirectly.

Its phenomenal growth has led India to take IT to heart as a national industry, and everyday Indians have a real sense of pride now that its large tech companies are rivalling the established IT giants like IBM. This is proof to them that India can play and win on the global stage.

Source: IT at the heart of India's development -

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