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The future of Information Technology in India
This resource is about the future of Information Technology in India. Here we see about the scope of IT in India, how currently India is the leader in Information Services, what are the current trends and steps that we can take to ensure India's future in IT.
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We are in an Information Industry Age. We would have heard about various technological eras of mankind such as green revolution or agricultural revolution, industrial revolution, currently we are in the era of information revolution. In India out of all the revolutions, information revolution has picked up a fast pace, making us a global leader in Information Technology services industry. The main reason behind this is our skilled manpower, we can call this more of mind power. In India about 3 million people work in Information Technology and enabled services. Most of the graduates engineering and non-engineering are taken into Information Technology field. Even medical professionals are required by Information Technology to provide research assistance in the field of Life Science. This has happened due to Globalization and economic reforms in our country. We are a fast developing economy now and the credit goes to Information Technology.
Skilled Manpower in India
India has always been a resource pool of skilled labor. We excel in providing the most primary raw material for Information Technology industry. Raw material is one of the primary requirement for any industry. If we take manufacturing industry for instance the expensive machines are the primary raw materials, the human labor is secondary raw material. In manufacturing industries major industrial works have been automated and most of the work is done by machines supervised by workers (secondary raw material). In case of Information Technology industry the primary raw material is the skilled labor. Till today India remains top in Information Technology sector because of its cheap and skilled labor. The other raw materials such as computer, software, licenses do not cost much when compared to that of skilled labor. This is the reason why India has remained at the top in Information Technology industry and most probably would remain so for long time ahead.
India's major Competitor in Information Technology
One of our major competitors for providing man power is China. Many Information Technology giants have already established their branches at China. China is a fast growing nation who has advanced at a rapid rate. Due to the reformation of their economic policies and modernization of industries they have become a great power in the world at a short span. We ourselves can see most of the products we use or buy is being made in China. Most of the countries in the world are the major consumers of Chinese products. Being the highest populated country in the world China has currently ventured into Information Technology market due to the availability of abundant manpower. It is said that in 10 to 15 years China would overtake India in Information Technology services industry. Not only china Europe is also competing in this aspect. We have come this far in Information Technology industry due to our economic liberalization; however we have to make some innovative change in our approach to excel in Information Technology Industry.
Recent Global Recession and its impact in Information Technology
One hot topic that we never tire to discuss is about the recent economic recessions. The first one in the year 2000 and the second one that peaked 2007 and ended between 2008 and 2009. The later one was global recession that affected almost all industries in the world. Information Industry was affected badly because of its link with worst hit areas such as banking, insurance, etc. Many Information Technology companies started to fire employees and few companies were closed temporarily. Yet few companies survived the recession by making wise decisions. They were prepared for the worst by taking cues from earlier recession during the year 2000. These Information Technology companies made themselves versatile in their service industry. They provided services for healthcare, pharmaceutical, power, life sciences, telecommunication, marketing and oil industries other than the financial and manufacturing industries. They saved themselves from being worst hit. They also expanded their client base throughout the world without depending on western countries alone.
Every time of recession there is a common topic feared by those in Information Technology and relished by those in non-IT "When would the Information Technology bubble burst?" Evolution is the key to mankind. Everything in the world evolves for better or for worse. Every industry evolves, however they don't go extinct. For example agriculture the most ancestral and historical industry has survived and evolved over times, also we would not be able to survive without it. It's an era of globalization, world economy may rise or fall, same is applicable to various industries. Information Industry would fall, survive and evolve. The question here is will India, our country evolve and keep up with the Information Industry.
Innovation – the current trend in Information Technology
The current trend in any industry especially Information Technology is innovation. How we do things differently matters and gives us an edge. Most of the product companies especially the renowned firms are not from India. This is our major drawback. We have always stayed in the safer side of Information Technology by providing services. But how long the service industry would survive is a question that has no can answer. Earlier Information Technology industry was at the boom and there were no much skilled personnel. Only good programmers and people with good computer knowledge were able to get into Information Technology industry. Their skills were needed to create new applications and advanced programs. But later computers were included in basic education for everyone. Candidates with basic computer knowledge and communication skills were able to get into Information Technology industry. People started to switch over companies for more salary at an alarming rate. Attrition rate increased. Also the work they did was not unique anymore; anyone can switch over to their place with minimal training. Hence automation, work with less human intervention is becoming the next trend. Software Testing a thriving area in Software and application development has automation testing at its boom. We can predict that in future most of the work would be automated to reduce labor costs. At that time we can expect stagnation in Information Technology industry in our country.
Innovation would be the key to maintain pace in the next stage of Information Technology. If we are able to provide innovative services we would be able to survive the changes in the industry. Also Information Technology industry has a wide scope; anyone with a change, innovation is welcome. Any man can become an entrepreneur. An ideal example is face book creator mark Zuckerberg. He has become an entrepreneur because he thought different and was an innovator. Indians too have lot of potential. Information Technology is not limited only to industries; it expands towards common public, the consumers. The market is wide with current trends and technologies like media, movies, video games, apps, etc. Becoming entrepreneurs and innovators we can ensure our future in Information Technology to be bright and strong.
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