Heading into 2021, there is little precedent for projecting the future. The economy is showing some signs of stability, but there are lingering fears over continued challenges or further surprises. No sector came across a speedy and super elevated development, such as the information technology all over the world. In the financial year 2019, IT industry in India generated annual revenue close to 180 billion U.S. dollars, a significant increase from the generated revenue ten years ago.
The Indian IT sector employs more than 4 million people and is a $150+ billion industry. Their main focus is on technological collaborations to offer the best enterprise solutions, process outsourcing, and business management solutions and now into automation and AI. Some of the best Indian IT companies are part of the top software companies worldwide with clients US, UK, Europe, and locally in India.
Top 5 IT companies of India
Name | Employees (Approx) | Net Sales in INR(Approx) | Net Sales in Pound(Approx) |
TCS | 4,00,000+ | 1,61,541 Cr | 1615.83 Cr |
Infosys | 2,00,000+ | 93,594 Cr | 936.18 Cr |
Wipro | 1,60,000+ | 63,682 Cr | 636.99 Cr |
Tech Mahindra | 1,17,000+ | 38,060 Cr | 380.70 Cr |
HCL | 1,17,000+ | 18,594 Cr | 185.99 Cr |
Besides these there are many other Indian IT companies like Oracle, Larsen and Toubro, Cognizant, Collabera. The jobs in Information Technology have witnessed a significant elevation. However, the most common and primary reasons for opting IT field as a career are more profitable than many other jobs that are recruiting, diverse and numerous career choices, friendly working hours, work from home benefits, a fair amount of money and most importantly always on demand, if you have required set of skills
According to the report by job platform SCIKEY Market Network, the major job roles that were in demand during November were project manager, software developer, software tester, consultant and digital marketing lead, it added.
However, the country is a home to some of the youngest entrepreneurs in the world, with the average age of founders at a mere 28 years. In today’s hyper-connected world, you are no longer limited to your city or country for sourcing the right talent for your work.
Why India is most preferred country for Outsourcing Staffing?
Talking about the favourite destinations for outsourcing, India remains a leader in the space, with 80% of European and US outsourcing firms ranking India as their number one outsourcing destination. NASSCOM also confirms that up to half of all top 500 companies outsource their software development to Indian firms. With remote working slowly emerging as the new norm, the outsourcing industry is all set to experience a further boom, owing to its multiple benefits like reduced costs and access to a larger talent pool. Successful companies are using outsourcing as one of their tools to optimize their businesses.
India's investment friendly policies, forward–thinking reforms, higher disposable incomes and rising middle class have made it an attractive outsourcing destination for foreign investors. When a company outsources the Indian it will get to work with enthusiastic and career–focused Indians, who constantly upgrade their skills through training and certificate programs. The company will face fewer cultural challenges, as Indians are always open to new ideas and opportunities
Even the top tech giants like Microsoft, Google, Ford Motor Company (FMC), CISCO, and American Express (AMEX), outsource IT services to India. And the reason is quite simple, India has the required resources to fulfill the growing demands of the software industry.
