The 7 Tech Trends: Shaping India’s Future
The 21st century is undoubtedly driven by Information Technology industry, and India has emerged as a global knowledge powerhouse at its very core. The IT industry encompasses IT services, IT-enabled services (IT-ITeS), e-commerce, and software and hardware products. IT-based services have become indispensable for organizations to increase productivity, streamline business processes, and grow efficiently in today's competitive world. Not only has Information Technology contributed to the country's economic growth, but it has also revolutionized governance, making it more efficient and accessible. From improved access to government services and information to transparent service delivery in areas like healthcare and education, IT has played a significant role in transforming various sectors.
The exponential growth of India's IT industry over the past two decades has changed the world's perception of the country's knowledge and skills, propelling economic progress. Liberalization policies and government initiatives, such as setting up Software Technology Parks and Special Economic Zones, have played instrumental roles in the industry's evolution. As of 2020, India's IT workforce accounts for 4.36 million employees, with the United States being the largest destination for IT services exports.
The COVID-19 pandemic has tested economies worldwide, but the Indian IT industry has shown resilience and the potential to overcome this crisis. It has emerged as a global economic force, contributing significantly to both the Indian economy and the world economy.
India towards becoming the global digital talent hub
The last decade witnessed India becoming a prominent IT hub for software companies globally. Online retailing, cloud computing, and e-commerce have contributed to the rapid growth of the IT industry. The market size of the IT industry has increased manifold, and it is expected to reach 350 billion US dollars by 2025. Along with its expansion, the IT industry has played a crucial role in India's GDP growth and development.
India's digitally skilled workforce accounts for approximately 75% of global digital talent, making the country a global IT hub. As the digital economy expands, technologies like 5G, artificial intelligence, Big Data analytics, and IoT will further boost the IT industry's growth. Companies are establishing their centers in tier II and tier III cities, reducing disparities and fostering growth.
The Atmanirbhar Bharat initiative has also brought significant changes to the IT sector, with increased focus on hardware manufacturing in India. The country is expected to have a digital economy of $1 trillion by 2025, making it one of the largest electronics markets globally.
The future belongs to India, with a substantial share of work from various parts of the world and Indian experts being placed across the globe. The education sector is also undergoing a transformation, with the last year of degree courses treated as an R&D year and syllabuses developed based on the latest technological advancements. This will equip graduates not just as job seekers but also as job creators.
India's IT industry continues to be a force to be reckoned with, driving the nation's progress and contributing significantly to the global tech landscape. With the ever-evolving trends and advancements in technology, the future looks promising for India's IT prowess on the global stage.