IT-BPO sector has become one of the most significant growth catalysts for the Indian economy. In addition to fuelling India’s economy, this industry is also positively influencing the lives of its people through an active direct and indirect contribution to the various socio-economic parameters such as employment, standard of living and diversity among others. The industry has played a significant role in transforming India’s image from a slow moving bureaucratic economy to a land of innovative entrepreneurs and a global player in providing world class technology solutions and business services. The industry has helped India transform from a rural and agriculture-based economy to a knowledge based economy.
Key Highlights during FY2011
India – A trillion dollar economy; GDP growth rate projected at 9 per cent for 2011
Fast emerging as a growth story driven by a growing middle class, consumer spending, and technology innovation
Increasing adoption of technology and Telecom by consumers and focused Government initiatives – leading to increased ICT adoption