Software

The IT industry is heavily influenced by factors like the global market and sustenance of its rate of growth. The recession in the United States also impacted the IT community in India negatively. This segment is promising and has vast potential, but there are concerns regarding the demand-supply gap, which is widening. Some challenges which the industry is facing are inadequate infrastructure, tax issues and limited preferential access for local firms. China and Taiwan are examples of low cost destinations, and India needs to change its current tax structure so that it can outdo competition from other countries.

One of the biggest benefits that the computer and IT industry provides in India is the employment it can generate. Other benefits are export and Foreign Direct Investments (FDI). New markets have opened up in the Middle East, Africa, Eastern Europe, and South and South East Asia. India is now a major destination for IT outsourcing.

Some leading firms that offer job opportunities in this field are Tata Consultancy Services (TCS), Wipro Technologies, Cognizant, Yahoo!, Google, Tech Mahindra, Infosys Technologies, HP, iGATE Patni, Accenture, L&T, EY, Convergys, MphasiS, Genpact, HCL Technologies and Godrej Infotech. Cities like Bengaluru, Delhi, Noida, Gurgaon, Hyderabad, Chennai, Bombay and Cochin are some of the key areas which have developed into potential IT hubs of the country and are key players which contribute to the growth of the Indian economy through telecommunication, software development, design, mobile commerce, e-commerce, BPO and knowledge process outsourcing (KPO)