The Software Industry, which is a main component of the Information technology, has brought tremendous success for the emerging economy.
India's young aged manpower is the key behind this success story. Presently there are more than 500 software firms in the country.
Overview on India's Software Industry
According to statistics, country's software exports reached total revenues of Rs 46100 crores. The share of total Indian exports form 4.9 per cent in 1997 to 20.4 percent in 2002-03. It is expected that the industry will generate a total employment of around four millions peoples, which accounts for 7 per cent of India's total GDP as in the year 2008.
The year 1995-96 was a boom for the industry. The performance of the industry over the years is as follows:
(In terms of US $ millions)
1995-961996-971997-981998-991999-20002000-01*Domestic software Market490670920125017002450Software Exports73410851750265040006300Indian Software Industry122417552670390057008750
(* Source: NASSCOM)
India's Software Exports:
Software exports has major share in India's total exports. As of the year 2004-05, both software and services revenue grew by 32 percent to $ 22 billions and $ 28.5 billions in 2005-06.