Information Technology (IT) has made possible information access at gigabit speeds. It has created a level playing field among nations and created has a positive impact on the lives of millions.
Indian IT and ITeS industry is divided into four major segments – IT services, business process management (BPM), software products and engineering services, and hardware. The IT services sector accounted for the largest share of the IT and ITeS industry, with a total market size of US$ 56.3 billion during FY13, followed by BPM sector (US$ 20.9 billion), and software products and engineering services (US$ 17.9 billion); the market size for hardware was US$ 13.3 billion during FY12.
According to data released by the Department of Industrial Policy and Promotion (DIPP), the computer software and hardware sector attracted foreign direct investment (FDI) worth Rs 59,381.64 crore (US$ 9.89 billion) between April 2000 and February 2014.
India is a preferred global destination for information technology (IT) and information technology enabled services (ITeS). The Indian IT-business process management (BPM) sector is estimated to expand at a compound annual growth rate (CAGR) of 9.5 per cent to reach US$ 300 billion by 2020. The sector increased at a CAGR of 25 per cent over 2000–13, 3–4 times higher than global IT-BPM spends.