A decade-low 5 percent economic growth rate may sound like bad news, but with elections scheduled for 2014, the government may implement measures to improve the economic scenario. For the IT industry, projections point to increased IT spends across all sectors.
India: Its size, its people, its coming of age.
Swati Prasad is a New Delhi-based freelance journalist who spent much of the mid-1990s and 2000s covering brick-and-mortar industries for some of India's leading publications. Seven years back when she took to freelancing, India was at the peak of its "outsourcing hub" glory and the world of Indian IT, telecom and Internet fascinated her. A self-proclaimed technophobic, Swati loves to report on anything that's remotely alien to her--be it cloud computing, telecom, BPOs, social media, e-government or software and hardware, and also how high-tech sectors impact the Indian economy.
The government is all gung-ho about taking broadband to the remote villages of India, but IT can't address all the problems of rural India such as the need for better roads.
According to a BCG report commissioned by Google, the Indian geo services industry generated US$3 billion in revenue in 2011 alone, while accounting for approximately 135,000 jobs.
Gartner forecasts Indian banking and securities firms will spend US$7.7 billion (INR 416 billion) this year on IT products and services.
Around 8 million shopped online in 2012, said Google India. Its study also shows mobile phones are increasingly driving the surge in online shopping, which is expected to see exponential growth in 2013.
India needs to reduce reliance on imports, as the Indian electronic system design and manufacturing industry promises to deliver a growth of 9.9 percent per year.
The Unique Identification Authority of India has signed up 250 million Aadhaar users currently, and it hopes as more people come onboard, there will be a "ripple effect" on online and mobile commerce.
Following the brutal gang-rape of a young female student in Delhi on Dec. 16, the country's IT industry has come up with applications to ensure the safety of women in Indian cities.
A recent study points out that every third smartphone user in India is using an Android-based handset to access live entertainment content online. The second-most popular platform is Symbian, followed by Blackberry.
The Indian IT services giant beats analyst expectations after a long time. It posts flat third quarter net profit, while raising its revenue forecast for the current financial year, ending Mar. 31.