The role of information technology sector in Indian economy-An overview

India is considered as the world's largest sourcing destination for the IT industry. It employs millions of workforces in our country thereby developing our economy. Thus the IT industry has enabled the economic transformation of the country and changed the perception of India in the global economy. This article gives a detailed view on Information Technology-its meaning and definitions, the growth of IT sector in India and its impact on Indian economy. Besides, the importance of IT sector in the global arena as well as in the Indian perspective was also reviewed. The revenue generated by the IT sector in Indian economy highlights the importance of this sector in our country. While booking air or railway tickets, one can choose from the best deals available and book tickets online thereby avoiding the crowd and lengthy procedures of booking at counters. As a result, the Indian companies were able to convince their customers in abroad that the satellite link was as reliable as a team of programmers working in their clients’ office (Taranjit Singh Vij, 2014). Thus IT sector had played a significant role in transforming India from a rural and agriculture based economy to a knowledge based economy. Most of these talents migrate to the developed countries and form an integral part of the workforce there, thus arising as the India's most beloved export. Thus it is evident that the IT sector has tremendously promoted the growth of Indian economy and is supposed to be in its growth stage in India.