Abstract or Introduction
India is the second most populated country in the word. Its economy, with a gross domestic product of about 1.8 trillion USD in 2012, is the tenth largest in the world. High growth rates in the IT industry in recent years contributed substantially to India’s economic position of in the world. In 2012 for instance, the Indian IT business process outsourcing industry generated revenues of about 69 billion USD, which is 7.5 % of the 2012 Indian GDP.
However, experts predict a couple of challenges facing this service sector. Upcoming competitors, such as China, or new technology like cloud computing might rearrange the situation (Muncaster, 2013). The goal of the following paper is to focus on the current economic, political, social and technological trends in India. Based on this information, a scenario for Indian IT industry in 2020 will be drawn.
Generally, Indian economy is expected to grow further in the next years. Indians finance minister, P. Chidambaram, predicts his country to be number five by 2020-25 in terms of GDP. Nevertheless, growth rates slowed down in 2012-13 and were the lowest rates since 2003-04. Following, the IT industry might not be able to grow like it did in the past. Furthermore, a couple of hurdles need to be overcome in order to ensure future competiveness. One example is the “linear growth models”.
- Quote paper
- Johannes Köck (Author), 2013, A scenario for the Indian IT Industry in 2020, based on current political, economic, social and technological trends in the country., Munich, GRIN Verlag, https://www.grin.com/document/378117