Why software technology industry is important for the development of country?

Asked by subbarao.chaitanya | 4th Mar, 2015, 06:01: PM

Expert Answer:

Hello Subbarao,

Indians have become leaders as well as contributors to, the information technology (IT) revolution in the United States, reinforcing the impression that India is world class in IT. There is a faster growth of software exports and the domestic software revenue still represents about 30% of software industry gross receipts.

The National Association of Software and Services Companies (NASSCOM) projects domestic sales to grow substantially faster than export sales in the next decade, enough to make domestic sales over 50% of the industry’s sales, and this seems to borne out by recent growth in domestic software.

In the domestic market, products and packages make up almost half of revenues, with projects accounting for over a quarter, while professional services, support and maintenance, IT enabled services and training each make up less than 10%.  hence the software industry plays an important role for the development of an economy.

Answered by  | 4th Mar, 2015, 06:04: PM

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