IT/ITes sector offers services related to information technology, research and development and engineering and hardware and BPO services. A report by NAASCOM estimated that 2014 fiscal year may go to add $12-14 billion dollar revenue to the exiting industry revenues of $118 billion. During the financial year 2014 industry exports are also increased to grow at 13 percent at $86 billion dollar with domestic revenues up 9.7 per cent at Rs. 1,910 billion. NAASCOM also stated that IT industry has added 16000 employees in 2013 and created 3.1 million direct jobs and 10 million indirect jobs. NAASCOM expected that IT services have forecasted $99 billion growth and the growth rate also comprises with an estimated 13 percent rise in the fiscal year 2014. There is a strong recommendation that Indian IT/ITes is likely to grow $300 billion by 20120. The major areas for development are e-commerce, software products and the IT market.
The major causes for the sector growth:Dynamic growth of IT companies in the country. Part of privatization of telecommunications. Development of SEZ lead to tax benefits for companies .Adequate resource availability in the country .Less operating costs. Tax breaks offered by the government
Employment providing: IT/ITes sector has been providing massive jobs to the needy jobseekers. The upcoming trends in online shopping, social media and cloud computing are providing great jobs and there is a remarkable demand for e-commerce professionals. Companies like TCL Technologies, Cognizant Technology Solutions, Tata Consultancy Services, Accenture, Capgemini, Amazon, Delloitte Consultancy and Microsoft Corporation INFOSYS IBM, DELL and others are hiring more employees and increasing employment rate. Cities like Hyderabad, Trivandrum, Chennai, Delhi-NCR, Bangalore, Mumbai and Pune are providing jobs to the jobseekers. Banglore city is the highest employment provider in India and Pune is on next phase. It is also noted that Pune is the top 3 preferred city among the major cities of India.
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