- Image via CrunchBase
Since the 1990’s, a major growth surge has been seen in India’s software market. The growth has been in many areas, such as manufacturing and in-country use, as well as exports. In fact, where exports are concerned, according to one report, over 50% of the software exported to the U. S. and Canada comes from India. Many of the companies which export software are Fortune 500 companies.
Several reasons have been given for this growth. The Indian government has been credited with a great deal of the success, as it has supported the software industry through the passing of key legislation concerning software development and other aspects of India’s software market. Also, based on the lack of economic flow from the U.S. a lot of overseas companies have to obtain those who hold a computer software degree in order to handle some of the bigger exporting.
The fact that India has also been willing to broaden its software base to include several areas of the software industry has also had an effect on its phenomenal growth. Currently, India’s software market includes such areas as: software which allows for business automation, software designed to provide and implement security measures on computers, software that was specifically designed for particular industries, and contract programming.
It doesn’t hurt that India currently has at least ten software companies, including one that is affiliated with the IBM Corporation, one of the United States’ leading software producers. All of the companies are working toward a common goal: that of continuing to increase India’s software market, in order to provide quality service to industries in its own country and well as abroad.
Many Indian university graduates chose the field of Information Technology and other computer areas that would include software, and have elected to stay in India and use their knowledge there, rather than seek employment in other countries. This is a good thing, as it both provides India’s people with employment opportunities and assures consumers that India’s software industry has high-quality workers.