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Role of IT Sector in Indian economy development

March 7, 2016 | Author: | Posted in Mobile Computing

”As a leader, it’s a major responsibility on your shoulders to practice the behavior you want others to follow.”

Leadership quality applies everywhere be it sports, IT or government sector. Let us put some light on IT sector and its impact on Indian economy.

The graph of India’s industrial life has been making an exponential increase since IT sector was introduced. Though private sector businesses lead to private gain, but to minimize its contribution to Indian economy growth would be malicious. In fact, the IT industry has a key role in country’s economy that aggregated revenue of US$147 billion in 2015.

IT sector has transfigured India’s slow moving bureaucratic economy image to a land that provides opportunities to innovative entrepreneurs. Bangalore being the Silicon Valley of India contributes 77 percent of the total industrial revenue every year along with a high rise of IT services company in India, whereas Mumbai accredited as the financial capital of India.

Furthermore, India’s current Prime Minister left no stones unturned and came out with ‘Digital India’ project to give IT a bright and secured future in India.

From the past few years, Indian has adopted ‘mixed economy’ concept that means coexistence of both the sectors – private as well as public, irrespective of their needs at the time of operation.
These two sectors are meant to exist paralleled and have their own share of contribution, though in this economic development scheme, public sector dominates certainly. Therefore, it will be injustice to give credits to public sector only as private enterprises are operating their respective roles uprightly towards the country’s industrial development. The verticals that are able to make their major roles are tea, sugar, steel, infrastructure, information technology, textiles etc, and they leave no space for doubts.

A survey was conducted recently and statistics show that in 2016, the packaged software segment is forecast with 12.4 percent growth.

When private sector idea was introduced, it promised to fulfill some social and economic objectives like rapid economic development, removal of poverty, improvement in living standards, deploy of resources effectively, declination in unemployment rate and rest of the history is being carried positively. Moreover, deploy of resources has a crucial part in industrial growth.

Lastly, there is no such antagonism between two sectors. Always remember that having the right people in the job, engaged and fulfilled, is the key to creating a customer focused company.

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An IT services company excelling in delivering custom business solutions and native apps catering to worldwide start ups as well as established businesses

This author has published 17 articles so far.