CONTRIBUTION OF INFORMATION TECHNOLOGY IN GROWTH OF INDIAN ECONOMY

Abstract

India being a highly connected and digital ready economy remains a high potential market worldwide offering multiple opportunities. India presents a large and burgeoning end user market being world’s second largest population in world. India is all set to leapfrog into the digital world with 937 million mobile subscribers, 278 million internet users, an USD 14 billion e-Commerce market. Indian IT industry has grown many manifold since 1980s. The industry has contributed considerably to the economy in terms of GDP, employments and foreign exchange earnings. IT industry is also responsible for increasing the competence and productivity of almost all sectors of the economy like services at banks, post offices, railways, airports etc. e-governance has increased the efficiency of government offices. In this paper we have analyzed different ways in which IT industry has contributed to India’s growth.