For IT professionals, the opportunities are endless
The Indian IT market is predicted to grow to $65 billion by 2009, a compounded annual growth rate of 21 percent. As per recent data released by IDC, the IT market of India crossed the $25 billion mark in 2004. This included a contribution of $16.7 billion from exports, and $8.5 billion from the domestic market.
According to IDC, the domestic market grew by 22.9 percent over 2003 and the growth primarily came from IT services (26 percent), PCs (25 percent), dotcom products (32 percent) and multifunction devices (48 percent).
Thus, the domestic IT market is clearly on a growth trajectory and the YoY growth rate is expected to peak at 23.3 percent in 2005, the highest during this business cycle (2004-2009). IDC predicts that the domestic market will grow at an average rate of 17 percent for the period 2004-09 and will move from Rs 38,303 crore in 2004 to Rs 84,878 crore in 2009.
The IT exports market on the other hand grew by 32 percent in 2004 (in rupees) touching Rs 75,477 crore revenue. IT services exports clocked Rs 51,047 crore whereas ITeS and hardware exports clocked Rs 24,430 crore. The growth came primarily from BPO services, which grew by 42 percent in 2004. IDC predicts that the export market will grow at an average rate of 22.2 percent touching nearly Rs 2, 06, 000 crore by 2009.
ICT workforce requirement
According to www.nasscom.org (the official website of National Association of Software and Service Companies), the need for Indian ICT manpower is only expected to rise over the next few years. Almost all key Indian ICT companies, including the ones that had issued pink slips during the global economic downturn, stepped up their hiring activity. The ITES-BPO industry proved to be one of the key employers during 2004, with large players further scaling their operations, diversifying into new segments and offering more specialized, higher-end outsourced services. As ITES-BPO organizations explored the opportunities offered by outsourced product development, documentation, R&D and HR services, the requirement for professionals with specific skill sets rose sharply.
Also, computerization by the country’s corporate, PSU and Government sectors is creating a major requirement for skilled, industry-ready manpower.
A rapidly recovering US economy and in particular the IT sector, is expected to once again, create IT jobs. A paucity of skilled professionals in the US is already causing organizations to opt for outsourcing or hiring Indian talent. As this demand-supply gap widens, Indian ICT manpower will draw even more interest.
Job prospects in this industry are definitely expanding in leaps and bounds.
- Systems analysts and designers are employed by almost every organisation, and they can ultimately become independent consultants.
- Consultancy Organisations can be established by IT professionals for providing services like software development, data processing and computer-linked services. They can design specific computer systems in areas such as medical diagnosis or industrial safety systems
- Network specialists are much in demand to design, install, configure, administer and maintain networks for integration of computers in offices, buildings and organisations across cities and countries.
- Special e-commerce functions and web designing is also a growing area of work both in the industry and on a freelance basis.
- Multimedia and video animation is also a major field that employs computer professionals with creative skills.
Necessary personal attributes
- Logical thinking
- Ability to grasp
- Staying abreast of the innovations and latest technologies
- Flexibility and willingness to adapt to new methodologies
- Power of deep and sustained concentration
- Imagination and creativity
Some of the premier technology institutes and universities conducting graduate (B.Sc. (Computer Science)/BCA/ Computer Engineering) and postgraduate courses (M.Sc./MCA) are as follows:
Amity Institute of Information Technology
- RECs at Kurukshetra, Rourkela, Jaipur and Suratkal
- Colleges of Engineering at Pune, Hyderabad, Baroda, Trivandrum
- PSG College of Engineering at Coimbatore
- Thapar Institute, Patiala
- Harcourt Butler Technological Institute, Kanpur