The global outsourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. The global IT & ITeS market (excluding hardware sector) reached US$ 1.2 trillion in 2016-17, while the global sourcing market increased by 1.7 times to reach US$ 173-178 billion. India remained the world’s top sourcing destination in 2016-17 with a share of 55 percent. Indian IT & ITeS companies have set up over 1,000 global delivery centres in over 200 cities around the world. This has already led the economic transformation of the country and altered the perception of India in the global economy.
FICCI's ICT Committee has been working extensively towards the growth and acceleration of the sector through new business models, global delivery, partnerships and transformative focus in India. In the process, we have established ourselves as an eminent platform for the Indian IT and ITeS industry and the government to come together for the policy formulation and change. The committee has been working closely with the Ministry of Electronics and Information Technology, Government of India along with all its associated departments and parallel divisions for organizing several important forums concerning current issues in the global as well as domestic information technology market. Focusing on global and domestic aspects of crucial areas like IT adoption across sectors, software engineering and export, M2M, IoT, Blockchain, e-Governance, cloud computing, digital communication and cybersecurity etc., the committee has also been a facilitator of international dialogue on policy issues. The committee also actively participate and provide recommendations and suggestions for the industry and the stakeholders to the government at various forums on a periodic basis. With presence across the globe, FICCI’s ICT and Digital Economy Committee also collaborates with various regions including Russia, US, Europe and China to increase business interaction and jointly tackle the key issues in information technology scenario concerning them, by participating in various bilateral ICT dialogues, global policy forums, and host several outward and inward business delegations.
The global outsourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. The global IT & ITeS market (excluding hardware sector) reached US$ 1.2 trillion in 2016-17, while the global sourcing market increased by 1.7 times to reach US$ 173-178 billion. India remained the world’s top sourcing destination in 2016-17 with a share of 55 percent. Indian IT & ITeS companies have set up over 1,000 global delivery centres in over 200 cities around the world. This has already led the economic transformation of the country and altered the perception of India in the global economy. India's cost competitiveness in providing IT services continues to be the mainstay of its Unique Selling Proposition (USP) in the global sourcing market. However, India is also gaining prominence in terms of intellectual capital with several global IT firms setting up their innovation centres in India. The IT industry has also created significant demand in the Indian education sector, especially for engineering and computer science. The Indian IT and ITeS industry is divided into four major segments - IT services, Business Process Management (BPM), software products and engineering services, and hardware.
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Sarika Gulyani
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