The advent of opening up industries in India to the private sector, both Indian and foreign, led to a major boost to the IT industry. With its prominence for its capabilities in the outsourcing of IT services, India accounts for 67 percent of the global outsourcing market. The industry successfully caters to the quality and cost requirements of the clients helping companies generate cost savings as compared to leading software markets.
India’s IT sector faces ample challenges as the government has taken a series of steps to intensify the level of integration of the Indian economy. The industry needs to streamline its business, training, and infrastructure to compete with global MNCs as full IT service providers rather than just back-end support providers.