India is the global leader in the information technology (IT)-business process outsourcing (BPO) industry with half of the world's back office being located here. In fact, the Indian outsourcing revenue at US$ 59 billion for 2011 accounts for 51 per cent of the global offshore market share, as per a report by Tholons Research. Further, the total direct employment by Indian IT-BPO sector (as of 2011) was 1.98 million and indirect employment was 7.5 million.
Similarly, the Indian internet economy is expected to touch Rs 10.8 trillion (US$ 215.03 billion) by 2016, according to a report titled 'Connected World Series study' by the Boston Consulting Group. It is interesting to note that India's internet economy's growth rate of 23 per cent makes it the second fastest across the G-20 countries and ahead of many other developing nations.
While IT giants are gaining popularity globally, small IT companies are also expected to play a big role in the growth of Indian IT sector in the coming decade. It is estimated that towards the end of 2011-12, the size of IT industry would reach US$ 100 billion and by 2020, the industry would generate a revenue of US$ 225 billion, providing employment to 10 million people.
With this growth rate and with smaller companies gaining in size and sophistication over the next few years, sky is the limit for the Indian IT sector.