IT INDUSTRY IN INDIA SINCE 1947
IT INDUSTRY IN AZAAD BHAARAT
Information technology (IT) has come a long way in India since independence. Governments and academia made use of IT Industry extensively in the early years. However, in the 1980s and 1990s, the IT sector began to grow rapidly, thanks to the government’s focus on IT infrastructure and the rise of the Indian Institutes of Technology (IITs).
Today in it’s 75th year of independence, India is one of the leading IT destinations in the world. The Indian IT sector is worth over $200 billion and employs over 4 million people. The sector is known for its low-cost, high-quality services, and it has a large pool of skilled IT professionals.
IMPACT MADE BY IT INDUSTRY
IT has had a major impact on India’s economy and society this has created jobs, boosted exports, and helped to improve the lives of millions of Indians and also made India more connected to the world, and it has helped to promote globalization.
Here are some of the key milestones in the development of IT in India since independence:
- 1947: The Indian government establishes the Council of Scientific and Industrial Research (CSIR), which plays a major role in the development of IT in India.
Council of Scientific and Industrial Research (CSIR) India
- 1952: The Indian Institute of Technology (IIT) Bombay was established. IITs are considered to be the top engineering and technology institutes in India.
Indian Institute of Technology (IIT) Bombay
- 1967: India launches its first satellite, Aryabhata. This is a major milestone in the development of India’s space program, and it also helps to boost the development of IT in India.
- 1984: The Indian government launches the National Policy on Information Technology (NPOIT). This policy lays the foundation for the development of IT in India.
- 1991: India liberalizes its economy, which leads to a boom in the IT sector.
- 1998: India launches its first software technology park (STP). STPs are special economic zones that offer tax breaks and other incentives to IT companies.
- 2000: India becomes a member of the World Trade Organization (WTO). This helps to boost the IT sector by opening up new markets for Indian IT companies.
- 2006: India launches the National e-Governance Plan (NeGP). This plan aims to use IT to improve governance in India.
- 2014: India launches the Digital India initiative. This initiative aims to make India a digitally empowered society.
The continued adoption of remote working, the growth of the e-commerce sector, and the increasing demand for cloud computing services will drive the Indian IT sector to grow at a CAGR of 7.5% from 2022 to 2027, reaching a value of $350 billion by 2027.
The IT sector is also expected to play a major role in the government’s Digital India initiative. This initiative aims to make India a digitally empowered society by providing universal access to high-speed internet, e-governance services, and digital literacy.
IT IN POST COVID ERA
The Indian IT industry will be shaped by the continued adoption of remote working by businesses of all sizes, the growth of the e-commerce sector, and the increasing demand for cloud computing services from businesses of all sizes.
- Growth of the cloud computing sector: Businesses of all sizes are driving the growth of the cloud computing sector, with demand for cloud-based services expected to grow at a CAGR of 20% from 2022 to 2027.
- Rise of artificial intelligence (AI) and machine learning (ML): AI and ML are rapidly disrupting the IT industry. Businesses are using AI-powered chatbots to automate customer service tasks and ML to improve the accuracy of predictive analytics models.
- Increased focus on cybersecurity: The COVID-19 pandemic has highlighted the importance of cybersecurity. Businesses are increasingly investing in cybersecurity solutions to protect their data and systems from cyberattacks.
- Growing demand for IT talent: The IT industry is facing a talent shortage. Businesses are struggling to find skilled IT professionals to meet the growing demand for IT services.
The Indian IT industry is well-positioned to capitalize on these trends and continue to grow in the post-COVID era.
The Indian IT industry is also capitalizing on these trends and will continue to grow in the post-COVID era.
The industry has a strong foundation of skilled IT professionals, and it is also home to a number of world-class IT companies. With the right policies and investments, the Indian IT industry can become a global leader in the years to come.