Electronic And Computer Software Industry In India

Introduction


 The IT & electronics industry is one of the fastest-growing industries in India, both in terms of production and exports. In fact, software development and IT-enabled services (ITeS) have made India’s brand equity a force to reckon with. The Indian electronics productsdemand is expected to grow at a Compound Annual Growth Rate (CAGR)of 41 per cent during 2017-20 to touch US$ 400 billion by 2020.

The Indian IT-BPM industry is expected to touch US$350 billion mark by 2025 from US$153 billion.

According to Nasscom, exports in the IT-BPM sector is expected to grow at 7-8 per cent (excluding exchange rate fluctuations). The domestic market is expected to grow at rate of 10-11 per cent and likely to add 130,000-150,000 jobs in FY2018

Advantage India

IT-BPM exports from India are estimated to reach US$ 117 billion (IT services – US$ 65 billion; BPM – US$ 26 billion; Engineering and R&D services (ER&D) – US$ 25 billion) in FY 17; the Indian IT-BPM industry is estimated to grow significantly to reach US$ 154 billion in FY 17; and the industry is largest employer of workforce which is around 3.7 million people.

Total IT-BPM exports from India stood at US$ 107.8 billion in FY 2015-16, out of which IT services export stood at US$ 61.0 billion, BPM industry exports stood at US$ 24.4 billion, and ER&D and Software Product Development exports stood at US$ 22.4 billion.

In the technology driven startups, India ranks third in the world (4,750 technology start-ups in 2016)
India has favourable government policy and regulatory support for the electronics & IT industry.
The industry offers a range of services, from low-end application development to high-end integrated IT solutions across multiple verticals, with a well-developed vendor base.

The Indian IT & software industry adheres to quality processes and standards, with most companies aligning operations with international standards.

Software technology parks and special economic zones in India provide an affordable real estate space for IT companies.

ELECTRONICS AND COMPUTER SOFTWARE EXPORT PROMOTION COUNCIL

The Electronics and Computer Software Promotion Council (ESC) was formed to provide a platform for India’s IT & electronics industry. With exports to more than 200 countries, ESC has successfully steered the direction of India’s electronics and software exports. ESC offers a comprehensive database of industry companies, and products and capabilities of all major players.
The council facilitates import/export collaborations, joint ventures, sub-contracting tie-ups, and technology transfers for industry players.
It provides access to published reports on markets, products and trade statistics, business opportunities, and government policies.

The Indian electronics and hardware industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 13-16 per cent to touch US$ 112-130 billion by 2018

Source:
Assocham, EY, Ministry of Electronics and Information Technology, Economic times, Nasscom.

* According to a study by Assocham and NEC #- According to Nasscom executive council member and group CEO, WNS Global Services, Mr Keshav Murugesh .