India's IT Products & Services are Heard Globally
Born in Mumbai in 1967, India’s IT services industry was an establishment of the TATA Group in partnership with Burroughs. The first export zone, SEEPZ- The precursor to the modern day IT park- was established in Mumbai in 1973. In the 1980s, SEEPZ was responsible for more than 80 percent of the country’s software exports.
Enter the 1990s, and so enters the World Wide Web. The growth in the IT industry skyrocketed with the World Wide Web turning up on the scene. The Indian economy too underwent major economic reforms in 1991. It led to a new era of globalization and economic integration, IT industry was greatly
benefited due to the economic transformation of the country and since then it has grown leaps and bounds.
Today, India is the largest exporter of IT services. Exports dominate the IT industry and constitute about 79 percent of the total revenue. The domestic IT industry also has a robust growth with significant revenue. The top 5 IT service providers in India are- Tata Consultancy Services (TCS), Infosys, Cognizant, WIPRO and HCL Technologies.
Today India is home to some of the finest IT services and consulting companies in the world. The software companies in India are reputed across the globe for their efficient IT and business-related solutions. India’s IT & ITeS industry revenues touched to USD 181 billion in 2018- 19. Exports from the industry increased to USD 137 billion in FY19 while domestic revenues (including hardware) advanced to USD 44 billion.
Currently, the Information technology and Information Technology enabled Services (IT-ITeS) sector is a field forming an integral part of India’s corporate today. It is undergoing rapid evolution and is helping to change the shape of Indian Business Standards. This sector includes software development, consultancies, software management, online services and business process outsourcing (BPO).
In this edition we are bringing together those contributors to the Indian IT Services market, who have relentlessly brought the best of IT infrastructure solutions. The IT Services and Products Industry of India holds a special position in the country’s corporate economy.
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