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IBEF Research: Creating Next Generation Technologies
In the 1990s, few countries took notice of India’s potential to emerge as a dominant player in the Information Technology (IT) sector. By 2007, the Indian IT industry registered record revenues of $39.6 billion. The key to this success has been innovation, sourced from IBEF.
India's IT sector is pioneering cutting-edge technology, helping global corporates to launch a fascinating new range of products and services.
In the 1990s, few countries took notice of India's potential to emerge as a dominant player in the Information Technology (IT) sector. By 2007, the Indian IT industry registered record revenues of $39.6 billion. The key to this success has been innovation.
Since the beginning, the Indian IT industry has shown tremendous innovation quotient, both in the services space and product domain. This innovative approach has now prompted the National Association of Software & Services Companies (Nasscom), the premier trade body of the Indian IT industry, to forecast $50 billion revenue in a couple of years.
A number of Indian IT services and product companies have grown into technology giants such as Tata Consultancy Services (TCS) of the Tata Group, India's largest software exporter, by banking on innovation. It is followed by Bangalore-based Infosys Technologies , which has the highest market capitalization among Indian IT companies.
Third in the list is Wipro Ltd , a traditional product company turned IT behemoth. These three companies are making waves worldwide by acquiring rivals to increase their geographical footprint. Interestingly, their growth has been propelled by innovative services and products, which have become popular among its clients.
In the 1990s, few countries took notice of India's potential to emerge as a dominant player in the Information Technology (IT) sector. By 2007, the Indian IT industry registered record revenues of $39.6 billion. The key to this success has been innovation.
