For many working professionals and young graduates, India’s Information Technology & software industry is the perfect launch pad to embark on a rewarding career that promises astounding growth opportunities, enviable onshore stints and hefty pay checks at the end of the month. Look back couple of years from now and you will marvel at the unprecedented growth of this high potential and fast-paced industry. Not only has the booming segment provided employment to innumerable freshers but it has also been responsible for offering many a lucrative career switches to experienced professionals who come with diverse skill sets and varied educational backgrounds.
With increasing disposable income of the average Indian household, one can hardly undermine the pivotal role played by the flourishing Information Technology & software sector in uplifting the socioeconomic status of the country’s growing middle class population and in triggering an economic transformation of the country. Considering that the Indian government is aggressively promoting the growth of IT and ITES sectors with various countrywide initiatives like ‘Digital India’, ‘Startup India’, ‘Skill India’, ‘Make in India’ and ‘Smart Cities Mission’, one would be wise to consider the long-term prospects of a career in this ever-evolving field that boasts a far-reaching impact on human lives and the society at large.
Career prospects in the Indian Software Industry
Employing a staggering workforce of around 10 million people, India’s IT industry comprises of both core IT and IT-enabled services (ITES) and accounts for approximately 67% of the USD 124-130 billion market. Putting India on the global map, the largely export dominated IT industry has been responsible for changing the perception of the country within the global sourcing market that now considers India as a formidable software development and consulting hub and not just a cost-effective provider of skilled and English-speaking low-cost labour. With a predictive growth rate of 12-14% in FY 2016-17 and contributing to approximately 9.5% of the country’s GDP in FY15, the Indian IT industry has metamorphosed to become the largest sourcing destination in the world for IT & software services. This has grabbed the attention of several global Information Technology firms who have flocked the shores of the country to establish their presence here. The revenue of the thriving sector is expected to reach USD 350 billion by FY 2025 – almost three times its current annual revenue!
With increasing cost pressures and the relentless focus on driving efficiency and visibility in existing processes, MNCs and corporate giants are increasingly looking forward to improve their bottom-line by automating their mundane and repetitive activities. Hence, trained and qualified software professionals are very much in demand across a host of functional areas and industries such as HR, Payroll, Finance, Healthcare, Banking, Retail and E-commerce as they continue to invest in technologies to digitize and simplify their existing payroll systems, payment systems, patient information management processes and data mining approaches amongst others. Likewise, those who equip themselves with niche skills in robotics, artificial intelligence, biotech, nanotech etc. will continue to reap the benefits of this high-paying industry, long after many others have been shown the door!
Future of the Software Industry in India
With the latest buzzword of Robotics and Artificial Intelligence, protectionism and tighter visa rules doing the rounds, one may be tempted to think that the golden run of India’s Information Technology & software industry has finally come to an end. However, the reality is far from the truth as the IT industry in India is gearing up for another bout of resurgence with plenty of exciting opportunities waiting to unfold in the near future as segments like SMAC (Social, Mobile, Analytics and Cloud), social media and e-commerce continue to grow & create new employments avenues for India’s IT population while automation and innovative technologies up the requirement for a skilled and reskilled IT workforce.
According to the Electronics and Information Technology Minister Ravi Shankar Prasad, a whopping 20-25 lakh jobs will be created in a span of 4-5 years. A positive outlook is also echoed by former Infosys leader, TV Mohandas Pai. He remarks that out of the top 10 software service companies that have been globally ranked by market cap, five are Indian. Within this illustrious list of top 10 software service companies, the top 5 names include three Indian companies. He further adds that 70% of the total population of nearly 2 million employees that belong to these top 10 companies are either based in India or travel out of India. Mr. Pai strongly feels that the Indian offshore software industry dominates the software services world and has no parallel.
Why Should You Opt for a Distance Post Graduate Diploma In Information Technology?
If you are an aspiring for a fulfilling career in the vibrant IT & software industry, then you must make yourself industry-ready by enrolling for a Distance MBA in Information Technology from a widely acclaimed institute like MIT School of Distance Education. MITSDE brings to you flexible Distance MBA courses such as the one-year PGD in IT and the two-year PGDBA in IT in order to ensure that you do not have to let go of your learning needs due to time constraints. Depending upon the program that you choose to pursue, you get to upskill yourself on varied industry-related topics such as Operating Systems, Networking Concepts, C++ Programming, Java Programming, Object Oriented Analysis & Designing and Database Management System – essential concepts that can help you become an expert in your chosen field of Software Developer, System Analyst, Software Analyst, Software Consultant, Business Analyst, Computer Programmer etc.
Apart from getting a chance to be trained and groomed by the stellar faculty of a reputed UGC-DEB recognised institute, you also get to avail yourself of customised courses & modules and an interactive & self-explanatory online learning system that makes it possible for you to sharpen your skills both in the comfort of your home and in the confines of your workplace.