Indian Software Industry and its evolving Service Capability

Indian Software Industry and its evolving Service Capability

The Compound Annual Growth Rate (CAGR) of the IT and the Software Development Industries is about 28-30% which has been consistently maintained for more than a decade. The growth of the Software Industry and its contribution to the Gross Domestic Product (GDP) of India has been phenomenal with the contribution towards the economy growing by leaps and bounds year after year.

The contribution of the Software Industry to the Gross Domestic Product of India and the Forex Revenues earned through Software Exports has been outstripping the revenue inflow of the other Industries. The growth of the Software and IT Sectors and their contribution towards the Gross Domestic Product of India are merely a single dimension of the entire growth and evolution of the Indian Software Development Industry.

In addition to this, clients of India operating from the United States and the Europe have witnessed huge satisfaction in terms of delivery of work, cost-effectiveness and the quality of work as is reiterated in all the corroborating reports, documents, case studies and surveys. The key clients of the Indian Software Industry based in the US and Europe contributes to the Industry for about 91% of the total revenue.

While, this remains so, the growth of the Industry in terms of technological advancements, human resources, infrastructural facilities, and projects undertaken will narrate different stories on the growth prospects of the Indian Software Industry and the growth that is attained so far. Clients such as Microsoft, SAP and IBM have all outsourced their high-end projects to India as their Offshore Software Outsourcing Destination.

Starting from the back-end services, routine, mechanical and allied services and the growth of the Indian Software Industry has given rise to an increase in the knowledge capital and hence, a gradual transition to the high-end services of Research, Analysis, Engineering Services and Software Development took place in the Indian Software Industry. This was gained on years of credibility as a reliable Offshore Outsourcing Destination to some of the major clients across the world, mainly based in the US and the European continent.

The kind of high-end services undertaken from some of the major players of the world and the contribution of the IT and Software Development Industry to the growth of the Indian Economy are testimony to the constant evolving of the Service Capability of the Indian Software Development Industry.

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