The IT & electronics industry is one of the fastest-growing industries in India, both in terms of production and exports. In fact, software development and IT-enabled services (ITeS) have made India’s brand equity a force to reckon with. Today, India is a vast market for IT, with a major production base. In 2014–15, direct employment in the IT & ITeS sector was estimated at 3.5 million. The demand for electronic products and systems in the country is estimated to reach US$ 400 billion by 2020.
India’s communication and broadcasting sector – with a 966 million strong subscriber base as of March 2015 – is one of the world’s largest in gross telephone subscribers.
- The availability of cost-effective manpower allows multinationals to save up to 25 per cent in operational costs.
- India has favourable government policy and regulatory support for the electronics & IT industry.
- The industry offers a range of services, from low-end application development to high-end integrated IT solutions across multiple verticals, with a well-developed vendor base.
- The Indian IT & software industry adheres to quality processes and standards, with most companies aligning operations with international standards.
- Software technology parks and special economic zones in India provide an affordable real estate space for IT companies.
- Among the top five global service locations, India maintains a substantive lead on the financial attractiveness index.
- The BPM industry, besides providing cost-efficiency, focusses on specialisation, process re-engineering and latest technology-enabled platforms; moreover, it is anticipated to become a US$ 50 billion industry by 2020.
ELECTRONICS AND COMPUTER SOFTWARE EXPORT PROMOTION COUNCIL
- The Electronics and Computer Software Promotion Council (ESC) was formed to provide a platform for India’s IT & electronics industry. With exports to more than 200 countries, ESC has successfully steered the direction of India’s electronics and software exports. ESC offers a comprehensive database of industry companies, and products and capabilities of all major players.
- The council facilitates import/export collaborations, joint ventures, sub-contracting tie-ups, and technology transfers for industry players.
- It provides access to published reports on markets, products and trade statistics, business opportunities, and government policies.