India s Competitive Position Of India Essay - 2150 Words

1. Introduction The IT industry in India has two major components IT and ITeS. This includes hardware, networking, training, and domestic and international market for IT services and software. IT enabled Services-Business Process Outsourcing. The growth in the service sector in India has been led by the IT sector and it is contributing to increase in gross domestic product (GDP). The major cities of this sector s exports are Bangalore, Hyderabad, Chennai, Delhi, and Mumbai. The market size of the industry is expected to rise to US $ 225 billion by 2020 considering India’s competitive position. Today IT sector leads the economic growth in terms of GDP, employment, export promotion, revenue generation and standards of living. The Indian IT sector continues to face challenges of competitiveness in the globalized world, specifically from countries like China and Philippines. The cost of the skilled Indian workforce is low compared to the developed nations. This makes the Indian IT services highly cost efficient and this is also the reason as to why the IT enabled services like business process outsourcing and knowledge process outsourcing have expanded significantly in the Indian job market. India’s reputation both as a source and a destination for skilled workforce helped it improve its relations with a world economy. So it can be said that the growth of India’s IT industry has been instrumental in facilitating the economic progress of India. Role of IT Sector in India TheShow MoreRelatedEmerging Economies And Globalization Of India And China1396 Words   |  6 Pagesmarket position, resource availability, human capital, as well as financial gains and efficiencies. For General Electric Healthcare (GEH), the strategy was clear: â€Å"...to revolutionize the world’s health by improving the quality, access and affordability of care.â€Å" (GE Healthcare, n.d.) 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