2013 Overview: Business Sectors in India

5. Information Technology

The IT division has been India's sunbeams sector for quite a time now. The industry has contributed significantly to altering India's picture from a sluggish developing economy to a worldwide player in providing world class technology results. According to the IBEF (India Brand Equity Foundation) figures, the Indian IT industry is set to touch $225 billion by 2020.

More: Biggest Business battles of 2012

Year 2012 witnessed a massive growth of 7.5 percent in the IT sector which was mere 1.2 percent in 1998. According to NASSCOM, the IT–BPO sector in India aggregated revenues of US$100 billion in FY2012, whereas export and domestic revenue summed up at U.S. $69.1 billion and U.S $31.7 billion. The Information Technology industry’s share increased to 25 percent of the total Indian Exports in the year 2012. The Information Technology sector is also a huge provider of employment in the Indian economy and around 230,000 jobs were provided in the Financial Year 2012.

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