In this era of internet and online mode all the things are totally dependent on computers and phones and this comes from the information technology so it becomes necessary to know how the information technology developed in the country and how it plays a role in boosting the economy of our countries because now a days business is totally dependent on internet, online and this comes from the information technology so it is very important to know how TCS, Wipro, HCL, Infosys, Tech Mahindra came into being and how Google, Microsoft came into being and it is also very important to know how India became the largest tech exporter in the world and how TCS, Wipro, Infosys became the largest tech company in the world.
REVOLUTION OF INFORMATION TECHNOLOGY
In 1963 the government established the Electronic Committee where the Bhabha Committee made a 10-year plan (1966-1975) to develop the marketing capabilities of the manufacturing plan of computers and its components. And this plan gave a new direction to the development of information technology in the country and then DR. Fakir Chandra Kohli laid the foundation of Tata Consultancy (TCS) in 1968 under the guidance of JRD Tata which is the largest IT company in the country . and after 1973 the country’s first software export zone SEEPZ was established in Mumbai and by 1980 more than 80% of the software was exported to UK, USA and other foreign countries by SEEPZ, at this time many IT companies like Infosys, Wipro, HCL were established in the country and in 1970 licensing made these IT sectors more complex but Rajiv Gandhi’s government in 1984 introduced the computer policy which made the existence of these companies easier and deregulated the IT companies.
there are some government policies which gave opportunity to develop IT hub in the country.
COMPUTER POLICY –
Reduced import tariffs on hardware and software
- It would be 1984 when this industry finally saw some favourable changes, when Rajiv Gandhi became Prime Minister and brought about a change in the government’s attitude towards the IT sector. His New Computer Policy (NCP-1984) offered a package of reduced import tariffs on hardware and software .
NOTE – source Wikipedia
LPG REFORMS 1991 –
In 1991 Indian government decided to make open economy and started liberalization, privatization and globalization, this is called LPG reforms. In 1991 government decided to open our economy for business and this decision gave golden opportunity to IT sector and IT companies. This changed the scenario of IT companies in technological advancement, FDI inflow and employee creation in IT companies. and also gave opportunity to Indian IT company to collaborate with foreign companies and also gave opportunity to Indian IT company to give services on global level, at this time BPO sector, customer service developed in India and India became IT hub.
TOP IT HUB IN INDIA –
1- BANGALORE –
sometime it’s known as Silicon valley of the India and it is the largest IT hub in India.
2- HYDERABAD –
HYDERABAD known as CYBERABAD as India’s second most important IT metropolis .
3- PUNE
4- CHENNAI
5- NOIDA
6- KOCHI
7-MUMBAI –
known as foundation store of IT sector of India .
At this time JRD Tata established Indian Institute of Science in Bangalore in 1909 and that played a vital role in developing India’s largest IT sector. and in 1960s Bangalore became the headquarters of Hindustan Aeronautical Limited and Indian Space Research Organization (ISRO). And in 1970 Electronic City was developed in Bangalore by RK BALIGHA on 322 acres . and highly qualified technical engineers were easily available in Bangalore that is why Infosys and Wipro made their headquarters in Bangalore and till date more than 67000 companies are registered in Bangalore, however the y2k bug played a vital role in making the city an IT headquarter .
Y2K BUG CRISIS –
Y2K bug, or Millennium bug, was a possible computer problem, the way some early computer programs were arising out of stored and processed dates, using the last two digits of the year (EG, ’99’ instead of ‘1999’). This expressed concern that “00” can explain “00” as “1900” instead of “2000” at the turn of the computer millennium, possibly leading to broader system failures.
ECONOMICAL GROWTH
Covid 19 has accelerated the digitization of every sector in India in an unprecedented way now today education, healthcare, financial service and government services are being digitized very fast and to capitalize on these digital India demand there is a need to increase the service output of IT company and due to this IT companies are getting good export revenue and also good domestic revenue. IT sector contributed 7.4% of GDP in India in FY 2022-23, and in FY 2023-24 IT companies have projected revenue of $245 billion where domestic revenue is $54 billion and export revenue is $194 billion and in FY 2024 revenue was 11.1% of GDP India’s IT and business services market is projected to reach $19.93 billion by 2025 driven by IT companies. Nowadays IT companies make a positive economic impact in states and tier 1 and tier 2 cities. Nowadays India has become a global technology powerhouse where global companies are ready for collaboration and partnership but further steps are required by the Indian government which can make the IT and business services sector more powerful.
TOP REVENUE GENERATING STATES BY IT SECTOR –
according to the data of FY 2022-
- KARNATKA – $53 BILLION .
- MAHARASHTRA – $33 BILLION .
- TELANGANA – $32 BILLION .
- TAMILNADU – $22 BILLION .
INIATIVE SHOULD BE TAKEN BY THE GOVERNMENT
India needs solid and continuous strategic planning to maintain its IT powerhouse and also needs to overcome the challenges of good infrastructure and infrastructure and those challenges are high speed internet, well equipped IT parks, reliable power supply and the environment required for investment. And also skilled workforce is also needed. There is a need to develop the education model in India and give better education to Indian students who can have good software development, machine learning, cloud computing etc. and they can play a vital role in the growth of IT industry. Also there is a need to improve research and development expenditure. And also as much as the IT industry is developing, cyber fraud is also improving and cyber security is under threat, so it is very important to further develop their existing cyber network.
CONCLUSION
Considering all these factors which are important to develop the IT industries and sustain the growth of Indian economy and GDP.
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