IT refers to the use of technology, be it hardware or software, for data processing business solutions & day-to-day functioning of companies.
In India & globally, the IT industry is large & continuously growing. The IT-BPO industry is poised to grow in terms of industry revenues to USD 225 billion by 2020*. The IT services sector is growing at a rate of 18% to touch Rs. 589 billion in revenues* during 2012-13.
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. According to the NASSCOM Strategic Review 2012, there is going to be a need for around 110 lakh skilled professionals during 2012-13.