India is one of the fastest growing IT hubs of the
world. The growth is dominated by the IT software and services such as
Custom Application Development and Maintenance (CADM), System
Integration, IT Consulting, Application Management, Infrastructure
Management Services, Software testing etc. Indian IT sector also offers
market with heavy returns and so multinationals are investing heavily.
Multinationals in the Indian IT Market
Some of the multinational giants investing in India are IBM, Dell,
Microsoft, Intel etc. The Department of Information and Technology has
received investment proposals of over $25 billion from Indian as well as
multinational companies. Investments worth over $6 billion have already
been done and the rest $ 20 billion are to be done further. Many cities
of India such as Bangalore, Hyderabad etc are the favorite destinations
of global giants such as HSBC, Hewlett Packard, Wipro etc. These cities
offer good infrastructure along with large floor space and great telecom
facilities. Moreover the geographical locations of India, is also very
helpful in making it a popular destination of the IT companies.
IT Enabled Services
The IT enabled services which started basic data entry tasks, is also
expanding in its scope of services. It now offers services such as
Knowledge Process Outsourcing (KPO), Legal Process Outsourcing (LPO),
Games Process Outsourcing (GPO) etc. More and more sophisticated
products are being developed in India. The domestic BPO segment is
growing annually at a rate of nearly 35 - 40 % and it employs nearly 2,
00,000 people. The revenues generated by the BPO's are almost $1.18
million and the domestic market is expected to reach $10 billion by the
end of the financial year 2008. If it continues to grow by the current
rate then by the end of the financial year 2012 then IT and IT enabled
services will reach nearly US$330 million.
