The IT sector is what it is; if it’s so good for people, let’s find out. IT stands for Information Technology. It is an area that involves the use of computers, laptops, software applications, and hardware to create, process, secure, and exchange electronic data.
IT companies, also known as software companies, come in two types: Service-based companies and Product-based companies.
History of Indian IT industry
The IT sector started in India and was one of the best industries. The Indian IT and BPM industry’s revenue significantly contributes to the contemporary world economy, with India being the largest exporter in the IT sector.
The contribution of the IT area to India’s Gross Domestic Product has increased from 1.2% in 1998 to 10% in 2019. The export dominance of the Indian IT industry accounts for almost 79% of the industry’s total revenue.
Top IT companies in India
This company operates in the energy, petrochemicals, textiles, natural resources, retail, and telecommunication sectors. TCS (Tata Consultancy Services) is the largest IT company in India and provides Information Technology (IT) services to customers around the world.
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TCS was established in 1968. According to the market, Reliance Industries is the largest company in India and is ranked 79th in the world.
Future of the Indian IT industry
In the coming years in India, to maintain the growth rate in the cloud IT sector, it is estimated that by the year 2026, the Indian IT industry will need approximately 9.5 million people.
The minister mentioned that in 2019-20, the total revenue of the Indian IT area was 190 billion dollars, which increased to 196 billion dollars in 2020-21, and then to 227 billion dollars in 2021-22.
