A Critical Perspective of Information Technology (IT) Industry Growth in India

Abstract

It is very much evident that the growth agenda being prescribed for the sustainable development of many emerging economies like India has a consistent reliance on the abnormality factor which is very popularly identified with the services sector in general and Information Technology sector in particular. The mushrooming growth rates and boom factors are no doubt, phenomenal in nature with respect to software sector in recent times and has drastically changed the economic landscape of India, in a way, providing new mantra for the growth of our economy. What makes it inevitable to depend on the inconsistencies and abnormality that form the major trends of information technology (IT) industry that penetrated deep into the nook and corners of the country? The most popular theory that caught the imagination of both entrepreneurs and government is that IT and IT Enabled Services (ITES) is the growth engine of economy, capable of meeting the foreign exchange reserves demand and people purchasing power at one stroke. At the same time, by systematically developing the inflow of foreign investments, the IT industry leads to the infrastructural advancement in various forms. Behind the conceiving of Software Technology Parks (STPs), IT Special Economic Zones (SEZs) as a major tool to trigger the economic growth rates, one has to look at the changing configurations of the industry in the light of many human-related issues and implications. As such, the article tries to recap the penetration of IT industry in India from a critical perspective by supporting the idea of adding a real human face to its further development in the country. Also, the basic issues like employee satisfaction and commitment get highlighted as part of narrating the growth story of IT industry in India.