The IT BPM Industry in India

The IT BPM Industry in India

According to NASSCOM, 2014 will see India’s information technology and IT-BPM industries rise by $12-15 billion in revenues. The current figure stands at $118 billion.

In FY 2015, exports are expecting a growth of 13%, with domestic earnings going up to 9.7%, amounting to $1.91 trillion. Reports also state that there were 16,000 employees in 2013, and subsequent growth has given rise to 3.1 million employed Indians, indirectly.

The Indian exports sector will rise 13-15% in the FY starting 2015, as better global economy encourages companies and banks to boost spending on technology. According to the forecast by NASSCOM, exports of IT services will rise to $99 billion. The growth-rate increase is estimated at 13% rise to about $99 billion. This compares to an estimated 13% rise in FY 2015. The statement also holds that the Indian ITES and IT industry will grow and become a $300 billion powerhouse by 2020 by participating in software product, e-commerce, and IT markets.

Reasons this sector is growing:

Employment trends

The ITES and IT sector has created great employment in the last few years and the trend continues. With social media, cloud computing, and online shopping flourishing, there is much demand for IT professionals in business and e-commerce.

There was recent hiring of 20,000 fresh pass-outs from entire India in 2013. The employers included TCS, Infosys, Wipro, Dell, and IBM, and that’s apart from the others who are improving the employment rate. After Bangalore, Pune is hiring at a massive rate. The ITES and IT sector is likely to be growing 12-15% in 2014. At the same time, Pune is ranking amongst the third-most preferred cities for tech jobs.

Internet trends

The internet has already become a part of our everyday lives, and job opportunities are accelerating. Cloud computing, mobility analytics and social media are the main reasons for growth in global technology. Cyber security, internet shopping, the socially enabled process of business, power technology, business analytics, and mobile engagement of customers are the options available in the country.

IAMAI (Internet and Mobile Association of India) reports that the probable number of internet users will be 243 million by June 2015, and that is expected to overtake USA putting it in the second-highest spot globally. In October 2014, there were 205 million and it is growing 40% every year.

Internet shopping is on a new high, with the current market size greater than $1.8 billion. The expectation is a 55% growth. As there are signs of e-commerce becoming a household phenomenon, huge numbers of offline brands are trying to adopt online marketing by making their own online shops and websites. Different websites like HomeShop18, Yebhi.com, Jabong.com, Snapdeal.com, and Flipkart.com are becoming very popular with internet users.

Author Bio:

Abhishek Jain, a veteran industry expert working with a prestigious outsourcing contact center, has been writing about industry technologies and their positive effects on organizations. Abhishek started out his career as a customer support executive, marking his entry in the customer service industry. He has a rewarding experience of working in various BPO industry processes for more than 10 years.  Abhishek’s unique passion for providing useful tips and information for customer engagement and customer experience reflects in his articles.