For many years now, the advantages of Information Technology could not be denied. IT in India is an industry that consists of two main components, IT services and business process outsourcing or BPO. Narendra Modi, India’s prime minister started a project ‘Digital India’ to help in securing IT a spot inside and outside of the country. It has become necessary to secure the country’s IT industry with all the other emerging outsourcing destinations that have come up recently. The government of India is known to have full support of its IT industry, thus making India the outsourcing hub in the world.
BLEND OF IT, INDIAN TALENT TO TAKE SHAPE
Prime Minister Modi said that a blend of IT and Indian talent will help save the future of the country. At an event to launch the integrated case management information system, Modi addressed the people present, saying that the formula is IT plus IT is equivalent to IT plus Indian talent sums up to India tomorrow. This, he said would help India stay ahead of the others. Furthermore, the Prime Minister stated that India’s future was in the utilization of the latest technologies. With different types of information technology shaping up, it has become a priority for the IT industry of the country to shape up and stay on a competitive edge.
The Prime Minister also used the favorite tagline of the government, ‘desh badal raha hai’ or ‘the country is changing’ to nail the point of changing the mindsets when it comes to work culture. Modi said: Desh badal raha hai. Aaj chutti hai, hum log kaam kar rahe hain. In English, it means the country is changing. Now is a holiday, Buddha Purima, but we’re still working. The statement amused the audience. JS Khehar, India’s Chief Justice and the senior judge of the apex court and Union Law Minister Ravi Shankar Prasad shared the stage with Modi during the event. Modi released a song that goes: My country is changing, it is moving forward, to mark the second anniversary of his administration.
The IT industry of India was born in 1967 in Mumbai with the Tata Group in partnership with Burroughs. SEEPZ, the first software export zone was established in Mumbai back in 1973. Over 80 percent of the software exports of the country were from SEEPZ during the 80’s. The economy of India has undergone major economic reforms in 1991, which led to a new era of international economic integration and globalization, as well as annual economic growth of more than six percent from 1993-2002. In part, the economic reforms were driven by an impressive internet use in the country.
The country remains as the favorite back-office of the world. This is due to its ‘first-mover advantage’ and its deep skill base. It is the all-around standout, providing manpower for any kind of offshoring project. With its deep skill base and first-mover advantage, India still maintains its lion’s share of the IT market.
India has excellence in Information Technology. The government has full support of its IT industry. The country is the popular destination when it comes to BPO because of the big annual output of qualified graduates from elite educational institutions in the country. Furthermore, the English language capabilities of the country’s population make it the number one choice in outsourcing. Indian’s IT services stalwarts are moving up the value chain. Companies like Wipro and Infosys are developed their R&D capabilities, expanding well beyond traditional vendor roles.
As the outsourcing destination in the world, India stays unmatched in terms of vast pool of talent and skilled human resources. It has a population of more than 1.2 billion and about 3.1 million graduates added to the workforce every year. Also, the country holds the distinction as the largest English speaking country in the world, even bigger than the United States and the United Kingdom combined. Aside from the huge numbers, the quality of talents draws organizations who wish to outsource. India’s attraction wasn’t just in numbers but the quality of talent more importantly. Indian service providers are creative and innovative and could truly contribute to the business. Perhaps the number one reason why the country remains the top outsourcing destination in the world is due to the considerable cost savings that businesses and organizations, wherever they may be located in the world, could achieve. This is mainly due to the huge gap existing between personnel expenses in India to that of developed countries. For instance, a good developer in the United States could cost from $50 to $80 per hour for a full time staff, depending on the experience and skills. The hourly cost of a developer in India on the other hand could be negotiated to as low as $15 an hour. The pricing flexibility provides organizations the freedom and creativity in the management of their budget. Furthermore, it also helps companies to reap big profits.