IT Boom in India
by Meenu Kaushal
Meenu Kaushal is a smarterwork Expert based in New Delhi specialising in document production and database processing. In this article, he explains how the Indian IT market is developing and what areas in particular are booming.
Read our interview with Meenu
The times are changing. Indian business has been touched, embraced and shaken up by the prefix e in just about everything these days – e-commerce, e-mails, e-friends, e-courses, and even e-jobs.
The Indian Market
It’s happening in India! With government planning to put India at the forefront of Information Technology and IT companies promising to turn their employees into young millionaires, the IT sector is the place to be in.
In an e-ra of information explosion the people of India are becoming net savvy. People are realising that technology is changing rapidly and they need to be constantly updated. Bringing about these changes are the professional IT companies and the ever-sprouting dot .com companies. People want to be a part of this fast-paced industry and are ready to work with and develop cutting edge technologies. Areas within the IT sector that are really fuelling the growth are IT-enabled services and Internet technologies.
Here are some markets currently booming in India.
In a short span of two to three years medical transcription has grown to a $50 million industry. The increasing need of doctors and medical firms in the US/Europe to outsource transcription services is allowing the industry to grow a whooping 30% each year. The MT industry is estimated to rise to a $10-billion industry in India and about 350,000 MTs are presently required.
Increasing competition is driving the need to focus on consumers and provide quality services. Call centers are a step in this direction. The employment base in call center business is expected to touch 2.5 million by the year 2007. Many call center businesses in Australia and the US have started setting up bases in India and many others are preparing to follow.
Geographic Information Systems
Government departments, telecom companies and utilities are increasingly becoming dependent on GIS data for environmental resource analysis, land use planning, network analysis etc. Marketing companies are also using GIS to explore new markets and to enable marketing and distribution strategies. This is industry is exploding like never before.
Companies worldwide are spending millions of dollars towards understanding consumer behaviour. Data warehousing, which is a repository of organised data, facilitates online analytical processing, decision support and data mining. Massive employment generation is expected in the Indian data conversion segment. Companies like VISA and Walmart are turning enormous volumes of data into meaningful business information.
Off-site services like personal assistant services (Presentations, Spreadsheets, Data entry, Word processing), Net research, Writing and editing services have also started coming in from US /Europe in a big way.
Internet Technologies & E-Commerce
And then there’s e-commerce, which is all set to change the way the world economy operates, for the benefit, hopefully, of consumers. Large numers of companies have cropped up and are generating huge employment and foreign exchange through Web site development and e-commerce solutions.
There are various other emerging opportunities like networking, animation, CRM etc, that we have not discussed in this article. It is predicted that India will achieve a $10 billion export by 2008. This shall primarily be due to its high quality, low cost IT experts. Clearly, new technologies and media are affecting India in a huge way.
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