India’s current scenario in the IT and R&D sector
The employment in the IT industry is around 10 million and more. There has been an economical transformation in the country and has created a place for India in the global rankings. The cost effectiveness of the workforce of highly skilled and trained personnel makes it an easy and cheaper option for the IT service. The scope and future are bright here as the country is also getting popular for its intellectual capital and also internationally acclaimed IT firms. The talent pool of technical graduates and post graduates here are in the thousands and also among the largest in the world, and they are available at a cheaper cost which is one of the main reasons why the global companies are attracted to India. The country amounts to around 12.3 % of the whole world market. Exports are one of the main reasons for it and the increase in the economy of the country and contribute to around 56.12 % of the total exports in IT.
Initiatives of government
The government of India has always been positive about the promoting and investment in the IT sector. The government has launched Digital India program that helps government services and the government departments to integrate and help the citizens of the country. It would help the increase in the gross domestic product by $ 550 billion to $ 1 trillion by 2025. Besides, India has jointly collaborated with the United States to build projects worth Rs. 1.13 trillion. There is lots of scope in this sector with the government of Telangana planning to construct around 60,000 sq ft space with a capital investment of $5.3 million. Bengaluru is also creating a hub with an investment of $2.6 billion and attracting many investors. The city became the 5th largest recipient globally in 2014.
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