what are the role of information technology in indian economy? -
October 29th, 2011
Information technology (IT) is playing a crucial role in contemporary society. It has transformed the whole world into a global village with a global economy, which is increasingly dependant on the creative management and distribution of information. Globalization of world economies has greatly enhanced the values of information to business organizations and has offered new business opportunities.
Today, IT provides the communication and analytical power that organizations need for conducting trade and managing business at global level with much ease. To coordinate their worldwide network of suppliers, distributors and consumers, organizations have developed global information systems that can track orders, deliveries, and payments round the clock. This has been possible because of the development of IT in its present form. In the broadest sense, information technology refers to both the hardware and software that are used to store, retrieve, and manipulate information. At the lowest level you have the servers each with an operating system. Installed on these servers are things like database and web serving software. The servers are connected to each other and to users via a network infrastructure. And the users accessing these servers have their own hardware, operating systems, and software tools.
In the last two decades, the Indian IT/ITES industry has contributed significantly to Indian economic growth in terms of GDP, foreign exchange earnings and employment generation. The industry has been the trigger for many "firsts" and has contributed not only to unleashing the hitherto untapped entrepreneurial potential of the middle class Indian but also taking Indian excellence to the global market.
(Student-FOSTIIMA Business School)