Growth and Development of the Selected Software Companies in India

Abstract

Indian software industry plays a significant role in developing the national economy, from an inward-looking economy into a dynamic digitally empowered society. Nearly 95% of the foreign exchange inflows in the service sector are contributed by IT and BPO industries. Indian Government policy was introduced in 1986 and modified in 1988 in relation to the world market policy, software technology parks of India scheme support to attract foreign direct investment. Recent advancement in the field of information and communication has significantly modified the role of IT in all organizations. The enormous growth in the IT industry has changed the outsourcing strategy and buying behaviour. Organizations can realize more benefits by investing more funds in IT technology. India is considered a pioneer in software development and a favourite destination for software and IT-enabled services. The IT industry has produced a revolutionary variation in the economic scenario and working a huge number of personnel with higher productivity and association with Multi-National Corporations (MNCs).