Information Technology: A Shining Star

Financial Planning

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Pratik Upendra Shah Founder, Neptune Wealth

Since the onset of the pandemic, the one sector which has been under the spotlight throughout is Information Technology (IT). As globally as well as domestically people started working from home, the need for robust IT infrastructure by companies saw a sharp uptick. This resulted in companies across sectors adopting newer IT solutions while some other decided to upgrade the existing systems.

Indian IT Turf

The IT industry is a major force to reckon with as it contributes to over half of services’ exports and accounts for 8 per cent of India’s GDP. With its robust 45 lakh IT professionals, India emerges as a large base for qualified IT talent globally. Additionally, deep expertise, presence across technologies like cloud and digital with multiple domains coupled with best-in-class execution makes India IT companies well-suited to enable holistic digital transformation. In terms of clients, the BFSI sector is the largest customer, followed by manufacturing and retail.

The IT sector based on the services offered can be divided into four broad groups – IT services and engineering, research and design, business processing and outsourcing and hardware. The sector is poised to grow for the following reasons:

Demand Environment