Information Technology (IT) sector contributes nearly 5% to GDP of the country. Information Technology sector can be broadly classified into software development, software services, software products, consulting services, BPO services, e-commerce & web services, engineering services off shoring and animation and gaming. Banking, Financial Services and Insura...more

Information Technology (IT) sector contributes nearly 5% to GDP of the country. Information Technology sector can be broadly classified into software development, software services, software products, consulting services, BPO services, e-commerce & web services, engineering services off shoring and animation and gaming. Banking, Financial Services and Insurance (also known as BFSI) is an industry name commonly used by IT/ITES/BPO companies to refer to the services they offer to companies in these domains. US contribute more than 50% of the revenues for the Indian IT companies. Rupee movement vis-à-vis dollar plays a major role on the earnings of the Indian IT companies. The contracts are either value based or hourly billing. Indian IT services gets tax exemption under Sec-10A (for STPs, software technology parks), which exempts companies from taxes on export revenues. NASSCOM is the premier trade body and the chamber of commerce of the IT-BPO industries in India. It is the premier organisation that represents and sets the tone for public policy for the Indian software industry. Gartner, a renowned research firm estimates demand for IT services worldwide. Gartner and Forrester carry out IT user surveys that are useful tools to gauge demand sentiment.  hide