CONTRIBUTION OF INFORMATION TECHNOLOGY IN GROWTH OF INDIAN ECONOMY

Information technology is an important player in emerging Indian economy market. India's government has established Information Technology industry as one of India's major and leading industries and plays a key role in achieving government policy goals such as economic and capital development. Over the years, the IT sector has emerged and has become as an important contributor to global economic growth. The IT sector, formed by the software and services, Information Technology Enabled Services (ITES) and the hardware sector, has been on a gradual growth projected with a constant rise in revenues as witnessed in from past few years. India being a highly connected and digital ready economy remains a high potential market worldwide offering different type of software based and hardware-based opportunities. India's largest and technology consumed end-user market is the world's second largest population. The IT industry is also responsible for increasing the competence and productivity of major all sectors of the economy, such as banking services, post offices, railways, airports, research, and development etc. In this Research we have analyzed different ways in which the IT industry has contributed to India's economic growth. The size of this sector has increased at a rate of 35% per year during the last 10 years. The share of information technology industry is 7 percent of gross domestic product (GDP) in Indian economy according to NASSCOM (www.imdr.edu; www.nasscom.org(2018). The prime study of this paper is to analyze the growth and performance of information technology industry in India. This research contributes to the question the strategies of information technology and its contribution towards India's economic development in a holistic and broader way Keywords: Information Technology; Software; Indian Economy; Digital World; E-Commerce market, B.P.O services, Multimedia.