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Indian Software Industry Rebounds as Economy Recovers
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Indian Software Industry Rebounds as Economy Recovers

Dec 18, 2009
Despite stiff competition from the emerging IT markets, the sound and competent Indian IT market will continue to attract overseas businesses offering comparatively low prices.
 
The Indian software industry is reviving with the new business deals, and with a 15% rise in hiring, people are again getting jobs in the IT sector of the country, as reported by Channelnewsasia.com.
 
To attract more clients, India’s second largest computer-services technology provider Infosys Technologies is likely to acquire consulting business worth US$ 200 Million. Further, over the last few months, HCL Corporation and Tata Consultancy Services have also extended their client base.
 
As per the estimates of IDC, a market research firm, US$22 Billion will be spent on IT services by India this year, due to clients’ return observed by the country. The main reason is that English continues to be the world’s international language and most of the Indians are educated in English.

Also, according to the market experts, the Indian IT industry will continue to pull in business from the overseas markets in spite of the competition from various thriving IT markets offering comparatively low costs, because prices in India will remain to be competitive. So, despite competition from emerging IT markets, it is anticipated that the country’s IT industry will continue growing. It is noted that the current value of the Indian IT industry is S60 Billion.
 
Particularly, compared to the prices offered by the Chinese, Singaporean and other IT markets, the Indian market is likely to offer competitive prices. Most of the competitors fail to match the Indian competency standards, and many of them are still learning IT business norms.
 
Though the economic turmoil has hit the sector hardest, it is expected that the revival in economy will bring considerable improvement.
 
According to a Research Analyst at RNCOS, “In this phase of fierce competition, IT companies will require to move on, i.e. shift their stance, concentrate on intellectual property and possess an increased worldwide presence in order to prove their capabilities. In addition, rather than providing thousands of engineers with average skills and knowledge, the educational institutes will be required to produce quality graduates to stimulate this growth.”
 
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