According to the Overseas Indian Facilitation Centre (OIFC), the Indian information and communication technology (ICT) industry has witnessed excellent growth in the past two decades.
Capitalising on its advantages of talent pool, lower cost of operation and the innovative remote delivery model, India has established itself as a global leader in the ICT sector.
ICT can be broadly viewed under two sectors, information technology (IT) and Communication.
India is one of the fastest-growing IT markets in the world. The rapid emergence of Indian IT sector has played a significant role in transforming India’s image from a slow moving bureaucratic economy to a land of innovative entrepreneurs.
And more recently, online retailing, cloud computing and e-commerce are emerged as the major growth drivers in the sector. The market size of information technology in India is expected to touch US$ 44.8 billion in 2014 as compared to US$ 35.1 billion in 2012, as per International Data Corporation (IDC).
The Indian IT infrastructure market comprising servers, storage and networking equipment’s is projected to grow to US$ 2.1 billion in 2013, an increase of 9.7 per cent as compared to 2012, according to Gartner.
The market is driven by hardware refresh, optimisation and consolidation efforts. New data centre build out, primarily driven by service providers, is providing added impetus to this market.
On the other hand, the telecom sector in India has registered a phenomenal growth during the past few years and has become the second largest telephone network in the world, only after China. The mobile services market in India is expected to grow to Rs 1.2 lakh crore (US$ 19.97billion) in 2013, an increase of 8 per cent from Rs 1.1 lakh crore (US$ 18.28 billion) in 2012, as per Gartner.
With more attractive and investor-friendly industrial policies and foreign direct investment (FDI) policies, India has become one of the favourite destinations for ICT investment portfolios.
According to new research Information and Communication Technology can be broadly viewed under two sectors, Information Technology (IT) and Communication.
And in India, the growth of both these sectors has been very significant in the past two decades.
Indian IT industry has built up an enormous confidence for itself in the global markets.
IT industry in India comprises of software industry and information technology enabled services (ITES), which also includes business process outsourcing (BPO) industry.
India is considered as a pioneer in software development and a favourite destination for IT-enabled services.
Meanwhile, the Global ICT Standardization Forum for India (GISFI) is an Indian standardization body active in the area of Information and Communication Technologies (ICT) and related application areas, such as energy, telemedicine, wireless robotics, biotechnology.
India plays an increasingly important role in the processes of globalization in the field of the communications technology industry and research and development.
GISFI is also an effort to create a new coherence and strengthen the role of India in the world standardization process by mapping the achievements in ICT in India to the global standardization trends.
Furthermore, GISFI is focused on strengthening the ties among leading and emerging scholars and institutions in India and the world; to develop and cultivate a research and development agenda for the field.
GISFI addresses the research and product development of ICT in India and provides a bridge towards the globalization of the Indian achievements; the issues of technology, governance, and development; and a platform for raising an awareness of the importance and the internationalization of the higher education in the field are supported by the joint partnership with the Government of India. The working groups organized in GISFI will draw knowledge from academia, business, civil society, and Government/policy-making circles, the Group further notes.