IT / ITeS
The IT/ITeS industry in India has become one of the fastest growing industries and has played a key role in putting India on the global map in the last decade. It has led to the growth of the Indian service sector and contributed substantially to increased GDP, employment and exports in the country.
The IT/ITeS sector has increased its contribution to India's GDP growth from 1.2 percent in FY1998 to 7.1 percent in FY2011. According to NASSCOM, the IT-BPO sector in India aggregated revenues of US$88.1 billion in FY2011, where export and domestic revenue stood at US$59 billion and US$29 billion respectively. In terms of employment generation, direct employment in the IT services and BPO/ITES segment was 2.3 million between 2009 and 2010 and is estimated to have reached nearly 2.5 million by the end of financial year 2010-11.
New trends emerged in 2011, including cloud computing, platform BPO and the emergence of Tier 2 cities as IT/ITeS destinations. These are likely to create new business opportunities and drive changes in traditional service offerings.