That India is a world leader in the sector is an established fact. The country commanded about 55 per cent market share of the US$ 185-190 billion global services sourcing business in 2017-18 and currently accounts for 75 per cent of the global digital talent. Indian IT & ITeS companies have set up over 1,000 global delivery centers in about 80 countries across the world and the industry grew to US$ 181 billion in 2018-19.
Services provided by the IT sector are 3-4 times more cost-effective than those in developed countries. Abundant talent, creation of urban infrastructure, operational excellence, conducive business environment and an ever-expanding domestic sector are the chief factors that have cemented India’s position in the global offshore IT industry.
Techno-clusters like Bengaluru, Hyderabad, Chennai and Gurgaon, with a plethora of industrial parks and MNShave boosted India’s standing in the global IT industry. Known as “The Silicon Valley of Asia”, Bengaluru is the heart of India’s IT sector and hosts a number of tech parks like Electronics City Phase I & II, ITPL, Bagmane Tech Park, Embassy Golf Links and Embassy TechVillage, among others.