Information technology is playing an important role in India today & has transformed India’s image as a land of innovative entrepreneurs. The IT sector in India is generating 2.5 million direct employment. India is now one of the biggest IT capitals of the modern world and all the major players in the world IT sector are present in the country.
It is estimated that the Indian IT industry would grow to about $300 billion by 2020, with software services and e-commerce leading the race. Government of India has taken several initiatives to promote the industry and several of the states have extended several benefits to the industry members.
E-Governance in India
Over the years, a large number of initiatives have been undertaken by various State Governments and Central Ministries to usher in an era of e-Government. Sustained efforts have been made at multiple levels to improve the delivery of public services and simplify the process of accessing them.
E-Governance in India has steadily evolved from computerization of Government Departments to initiatives that encapsulate the finer points of Governance, such as citizen centricity, service orientation and transparency. Lessons from previous e-Governance initiatives have played an important role in shaping the progressive e-Governance strategy of the country. Due cognizance has been taken of the notion that to speed up e-Governance implementation across the various arms of Government at National, State, and Local levels, a programme approach needs to be adopted, guided by common vision and strategy. This approach has the potential of enabling huge savings in costs through sharing of core and support infrastructure, enabling interoperability through standards, and of presenting a seamless view of Government to citizens.
Electronic System Design and Manufacturing (ESDM) industry
Electronic System Design and Manufacturing (ESDM) industry in India has witnessed significant growth in recent years. The demand for Electronic products in India (Domestic Consumption and Exports) is projected to grow at 22% CAGR to reach USD 400 billion in FY2020 (from USD 45 billion in FY2009). Despite high growth in ESDM industry, the demand has outpaced the supply.
Major demand drivers fuelling high growth of the sector included rapid economic growth in the country, burgeoning middle class with increasing disposable income, reduced shelf life and aspiration value attached to electronic products. If the present growth trajectories continue, India’s import bill for Electronics will exceed its Oil import bill by 2030 and the trade deficit from Electronics products will exceed that from Oil before the end of this decade. This poses a significant macro threat for the country which needs to be addressed urgently. With increasing government focus to create an ecosystem conducive for the growth of this industry and innovation based approach, the Indian ESDM is poised to register significant growth in coming years. Electronic Systems Design can become the strength of India. There are well over a thousand companies (local and multinational) across multiple cities and towns of India who excelled in Electronic Systems Design innovation. Electronic product manufacturing is also a critical area for India’s growth ahead. As a responsible industry body, we feel that there is a serious need for a common platform where representatives from government and industry could interact and exchange views and ideas. Government has to make investors aware about opportunities in different states of India whereas existing industry players have to share their issues and concerns with the policy makers. The intention of all these is to fine tune government policies which in turn would facilitate the investment process.