Growth of IT Career in India
Whenever you think of tech jobs, you can picture a developer, engineer, or data scientist — someone with technical skills like coding. Take this guide to consider changing your career into tech.
India positions third place among some of the world's most attractive investment opportunities for technology purchases. Union Minister of Department of Science & Technology, confirmed that technology is a high priority sector for the government and intends to make science – centric citizens. Modern India has focused heavily on science and technology, realizing that it is an essential component of economic growth. India ranks among the world's top scientific research countries, positioned as one of the top five tech savvy nations.
The Indian software industry, in addition, has become successful in making a mark in the global arena with the huge success of the software companies in India. This industry has played a key role in driving the nation's economy on to a rapid growth curve. According to the NASSCOM report, in 2010, the IT / ITES industry reported an increase of 4 – 7 %. Software exports have also increased, which has been instrumental in both the Indian software companies and the industry's huge success. Yes, software exports from India account for more than 65 percent of total software revenue. The regional software market is highly dependent on the sale of software packages and products which make up the bulk of turnover. The domestic market accounts for nearly 40 % of products. More than 80 % of software export income, on the other hand, comes from software services such as custom software creation and consulting services etc.
There are a lot of reasons why the software companies were so popular in India. A host of global corporations have also jumped into India's IT industry, in addition to the Indian software companies. India is the center of low-cost and highly qualified tech professionals, available in quantity. This helps the software companies create cost – effective solutions for their customers. Indian tech companies are thus able to place their services and products at the most competitive rate in the global market. This is the purpose why India was also a favorite outsourcing destination. There are also many multinational IT giants in India with their offshore development centers.
In India, information technology is an industrial sector which consists of two main components: IT services and outsourcing of business processes (BPO). The sector expanded its GDP contribution from 1.2 per cent in 1998 to 7.7 per cent in 2017. Based on the most recent saying of NASSCOM, the sector generated revenues of 160 billion US dollars in 2017, with export revenues of 99 billion US dollars and domestic revenues of 48 billion US dollars, increasing by more than 13%. The US accounts for 2/3 of India's IT service providers exports.
The rapidly increasing stature of India in the Age of information facilitated it to develop close connections with both the US and the European Union. However, both Indian IT corporations and multinational companies have been deeply affected by the current global financial crises. As a matter of consequence, recruiting has fallen sharply, and employees are looking at various sectors such as financial services, telecommunications, and manufacturing, which have grown dramatically over the last several years.
With significant structural modifications evident throughout the IT sector due to cloud computing, social media proliferation, big data, analytics all leading to digital services and digital economy, many of India's leading IT companies registered smaller headcounts in their financial reports.
IT companies in India
Top IT companies in India are going to contribute in technology growth not just in India but internationally. Top IT sector organizations in India have now become the world leaders in the information technology business over the last few years. Although the IT sector is still one of the largest recruiters, the worldwide advances and innovations have been put under constant stress. Such leading Indian IT companies offer solutions to different industries around the globe, such as manufacturing, retail, government agencies, banking, etc.
Some of India's best IT firms are among world over’s biggest software companies. Customers of these IT companies come from the United States, the UK, Asia, APAC and India. Some of India's biggest IT companies are TCS, Infosys, Tech Mahindra, Wipro, HCL and so on. Here is a compilation of India's top 10 IT firms.
TATA Consulting Services Limited (TCS) is an Indian multinational IT solutions and consultancy firm headquartered in Mumbai, Maharashtra, India. It is a Tata Group company and serves in 46 countries, at 149 locations.
TCS is India's biggest market capitalization company Tata consulting services are now ranked among the world's most important IT services companies. TCS was ranked 64th overall in the Forbes World's Most Innovative Companies rankings in 2015, making it both the top – ranked IT services company and the top Indian firm. It is the world's largest supplier of information technology services. It is listed 11th on the Fortune India 500 list as of 2018.
TCS and its 67 subsidiaries offer a variety of products and services related to information technology, including application development, business process outsourcing, capacity planning, consulting, enterprise software, hardware scaling, payment processing, software engineering and technology education. The software products that the firm has developed are TCS BaNCS and TCS MasterCraft.
Infosys Limited is a multi – national Indian corporation providing consulting, information technology, and outsourcing services. Headquarters are in Bangalore, Karnataka, India. Infosys is the second biggest Indian IT firm following revenue from Tata Consultancy Services by 2017, and the 596th largest revenue-based public company in the world. His market capitalization rose to $46.52 billion on March 29, 2019. The company's credit rating is ‘A’ according to Standard & Poor’s.
Infosys supports companies in banking, insurance, manufacturing and other fields with software development, maintenance and independent validation services.
One of its popular solutions is Finacle, which is a universal banking application with different retail & corporate banking components.
Tech Mahindra Limited is a global Indian company of the Mahindra Group, offering IT services and Business Process Outsourcing (BPO) services to businesses in different vertical and horizontal markets. Anand Mahindra is Tech Mahindra's CEO, headquartered in Pune and based in Mumbai.
Tech Mahindra is a US$ 4.9 billion company employing more than 131,522 + workers in 90 countries. In India's IT companies, Tech Mahindra was ranked #5. Tech Mahindra revealed a collaboration with Mahindra Satyam would be completed. As of November 2019 Tech Mahindra had 946 active customers.
Wipro is a multinational Indian company providing services in information technology, consultancy, and business processes. It has its head – office in Bangalore, Karnataka, India.
Wipro split its non – IT businesses and founded Wipro Enterprises, privately owned.
Wipro Limited is an IT service provider including Systems Integration, Management, Outsourcing of Information Systems, IT – enabled services and R&D services. Wipro joined the technology industry in 1981 and employs more than 160,000 employees and clients throughout 110 countries. IT sales for the year ended 31 March 2015 were $7.1 billion, with a repeat ratio of more than 95 %.
HCL Technologies Limited is an Indian international IT services and outsourcing company based in Noida, Uttar Pradesh. It is a division of HCL Enterprise. Originally a research and development department of HCL, when HCL entered the software services business in 1991 it emerged as an independent enterprise. HCL Technologies is listed on Forbes Global 2000. As of May 2017, it is among the top 20 largest publicly traded companies in India with a $18.7 billion market capitalization.
HCL continues to operate through sectors such as aerospace and defence, automotive, banking, capital markets, chemical and process industries, energy and utilities, healthcare, hi – tech, industrial manufacturing, consumer goods, insurance, life sciences, manufacturing, media and entertainment, mining and natural resources, oil and gas, retail, telecommunications, and travel, transport, logistics and hospitality.
Larsen & Toubro Infotech
Larsen & Toubro Infotech, popularly known as L&T Limited, is a multinational Indian conglomerate firm based in Mumbai, Maharashtra, India. It was established by two Danish engineers coming to India to take refuge. The enterprise has business interests in basic and heavy engineering, construction, real estate, capital goods manufacturing, information technology, and financial services. As announced on 31 March 2018, L&T Group consists of 93 companies, 8 partners, 34 joint ventures and 33 joint ventures.
Oracle Corporation is a company based in Redwood Shores, California, that is an American multinational computer technology firm. The company sells information and technology database, cloud engineering systems, and enterprise software products— especially their own database management system brands. Through sales and market capitalization, Oracle was the second – largest software company in 2019.
The business also develops and creates resources for the advancement of middle – tier information applications and processes, Software for Enterprise Resource Planning (ERP), Software for Human Capital Management (HCM), Software for Customer Relationship Management (CRM), and Software for Supply Chain Management (SCM).
Oracle develops, produces and markets software and hardware products, as well as providing complimentary services. Many of the items were incorporated by acquisitions into Oracle's portfolio. E–delivery service provided by Oracle provides generic downloadable Oracle software and supporting documents.
Oracle has developed many of its software which are successfully running in the market. Some of its software are as follows,
- Oracle Database
- Oracle Relational Database System
- Oracle Essbase
- Oracle NoSQL Database
- Oracle Fusion Middleware
- Oracle E – Business Suite
- Oracle Diagnostics Pack