How is India a Great IT Talent Center?
The statistics of 2015–16 in a research study conducted by a group of researchers found that India is the world’s largest sourcing destination for the Information Technology (IT) industry. This accounted for approximately 68 percent of the US market. The scenario here in India is massive to such an extent that it employs 10 million techies. The pattern in the industry has led to the economic transformation of the country and has tailored its persona. Today, the world looks at India as a solution hub to the most complicated tech processes.
It is important to mention that India’s competitive cost structure in providing quality driven IT services, which approximately is about 4 to 5 times cheaper than what it is in the U.S., is its unique selling proposition; the strongest tool against its major global competitors. With its spreading intellectual eminence, several global firms have set up and are in the process of setting up their innovation hubs here. The industry has also created an impressive demand in almost every sector, particularly in the field of engineering.
The Indian scenario is in fact, divided into four important section — IT service sector, business process management, software product development and engineering services and hardware. The Indian IT sector is expected to continue its growth at an accelerated speed of about 14 to 15 percent during the year 2016–17. The annual revenue is speculated to triple the existing figures and that is an incredible growth figure.
The Indian startup ecosystem is now a highly populated tech brain center with about 4,200 sprouting up with an employee base that figures up to an incredible one. With such impressive changes and progress, the economy is expected to touch a booming 10 trillion by 2018. India ranks among the top five countries in digitalization maturity and is expected to be among the top nations with the opportunity to grow and scale better. The core competencies and strengths have attracted colossal levels of investments from major countries but the curious case here is that what exactly is it that makes India a great IT talent center?
Beyond the realm of a degree
It is interesting to note that India produces about 1.5 million engineers annually. But what makes it noteworthy is that most of the prodigies today aren’t restricted by a mere certificate or a degree. They aren’t caged in the prints of their CV’s. From boot camps to hackathons and a lot more, developing skills over manual rotting is given importance and thanks to an expanded, we have had the best possible human resources with the right set of skills. With unconventional platforms, focused on developing the young coding experts, the conventional barriers between incredibly talented people and a rigid educational system are being destroyed. This very fact has now equipped companies with rich analytic and intelligent experts, empowered to make better decisions.
Destroying Language Barriers
The English language is an essential factor since it is the lone language in which communication is possible among people from the various diverse background; a common ground to discuss and share ideas, requirements, and expectations. Indians is primarily an English speaking country, enabling tech citizens to communicate and connect well with their overseas clients. We’re not boasting here but India has the second largest pool of English speaking scientific professionals, ranking second to the United States.
The Low-Cost Factor
India is a land of abundant manual power and with such supreme tech minds in impressive numbers, India reduces the cost of operation by one-fourth of the actual cost. This crucial factor makes it every company’s IT abode while making an outsourcing decision. Not that people aren’t paid enough. They are employed with salaries that match their market figures.
The India-US IT Connect
With a lot many Indian IT professionals moving to the United States for research purposes back in 1965, it wouldn’t be wrong to point out that Indian immigrants in the United States have extended major contribution towards the IT revolution in the United States. This growth in opportunities was massive so much that it needed an IT professional support outside the political boundaries. India had a huge number of educated people and outsourcing of work started gaining momentum here. This led to a boom period in the Indian IT scenario where most of the work is exporting software and other support services to the United States and other major overseas clients.
The evolving economic reforms in India toohave been contributing towards this talent hub and soon India went on to become one of the most sought after outsourcing space. In the 1990s, the industry started off with a software export of nearly $100 million with around 5,000 employees. Now it is an industry that thrives globally and India’s IT exports are now around $90 billion with 10 million employees working in this sector.
Today, the world can see the kind of development that has taken over in India. World’s major IT companies have got their personalized IT centers here and the industry on seem to bloom further. With such rich grounds to flourish, India is and continues to remain the most sought IT talent center. A rich analytical bent, quality focused manpower and the potential to reform; that’s exactly what the Indian tech scenario stands for.
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