IT refers to the use of technology, be it hardware or software, for data processing, business solutions & day-to-day functioning of companies.

According to a Make in India report, India's IT-BPM industry recorded revenues of approximately Rs. 10 lakh crores in March 2017, approximately 8.5% year-on-year growth*.

IT Industry

Every industry depends on IT - banking, financial services, retail, media, pharma, automobile, manufacturing, telecom, hospitality etc. Technology & software solutions have become a part of all companies - Government bodies, startup firms and small & medium enterprises.

Newly emerging trends & technologies like cloud computing, mobile applications, social media & data analytics give rise to new opportunities in this sector.

*Source: IT & BPM Highlights 2016

Job in the industry
  • IT-BPM sector's contribution relative to India's GDP is more than 9.3 per cent*.
  • According to NASSCOM HR Summit 2010, IT & BPO sector are set to add 30 million new jobs by 2020.
  • IT jobs are well-paying and in demand around the world.
  • IT Job roles are expected to grow as newer & advanced technologies come up.
  • There are number of career options for different people - right from data entry operation to designing Powerpoint presentations to building mobile applications.

*Source: NASSCOM

Role of IT in industry

BFSI (Banking & Financial Services industry):

 
I.T. is used in the BFS industry for:
  • Computerising Branch Networks
  • Installing ATM Networks
  • Systems (handling debit/credit cards)
  • Enabling Internet Banking
  • Office Automation (in case of insurance)
  • Managing Customer Relationships
  • Processing Mortgage Loans

Health care:

 
I.T. is used in the HealthCare industry for:
  • Processing Information
  • Cataloguing Patient History & Records
  • Hospital Management
  • Managing Billing & Insurance
  • Coordinating Inventory
  • Managing Logistics

Airlines:

 
I.T. is used in the Airlines industry for:
  • Enhancing Passenger Service
  • Coordinating Airport Operations
  • Keeping track of Airline Cargo & Logistics
  • Managing Fuel (oil & gas) Logistics
  • Coordinating Flight Operations

Manufacturing:

 
I.T. is used in the manufacturing industry for:
  • Adhering to W.T.O. Norms
  • Managing Suppliers, Sub-contractors and Distribution
  • Enhancing Operational Efficiency
  • Increasing Capital Productivity
  • Reducing Fixed & Variable Costs
  • Understanding Shrinking Product Life-cycles
  • Mass Customisation of Products
*Source: Nasscom Strategic Review 2012

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