Every year out of the 2.4 million graduates 97 percent find jobs in the IT industry. This talent caters largely to remote development, IT outsourcing and high quality domestic software development. At this rate there can be approximately 17 million people available to the IT industry by 2008. The IT outsourcing and remote development industry which currently employs 0.5 million people, will employ over 2 million people directly and create indirect employment opportunities for at least an additional 2 million people by 2008.
The Indian education system places strong emphasis on mathematics and science, resulting in a large number of science and engineering graduates. Mastery over quantitative concepts coupled with English proficiency has resulted in a skill set that has enabled the country to take advantage of the current international demand for remote development and IT outsourcing.
The investor friendly atmosphere created by the liberalized policies of the Government, has resulted in huge inflows of FDI from NRIs including Overseas Corporate Bodies (OCBs) owned by NRIs, and also made foreign technology accessible.
Keeping up the pace the Indian Government has passed the IT bill in the year 2000, which provides a legal framework for the recognition of electronic contracts, prevention of computer crimes, electronic filing of documents etc.
Most of the states in India have come up with the concept of Software Technology Parks for the promotion of IT outsourcing, ITES and remote development companies.
All these initiatives by the Government have ratified the perception that India is the destination of choice for IT enabled services as well as IT outsourcing and Remote development.
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