Information Technology (IT) is playing a significant role in the growth and development of Indian economy because of its empirical characteristics that apply at the current time. The sector envelopes software solutions, hardware, IT services, engineering and R&D services and ITES (IT-enabled services). For last 20 years, the Indian IT/ITES industry has contributed significantly to Indian economic growth in terms of GDP, foreign exchange earnings and employment generation.
The industry has been the trigger for many “firsts” and has contributed not only to unleashing the hitherto untapped entrepreneurial potential of the middle class Indian but also taking Indian excellence to the global market.
The unprecedented achievements of ITES sphere and favourable business environment, armed with skilled manpower and cost arbitrage, attracted various companies to establish their IT and back offices in India.