In this post-pandemic scenario, the country’s economy is regaining its lost spirit. The major contributor to supporting this growth trajectory is the IT sector of the nation. The IT sector had offered its support when the nation was witnessing a blood bath of its markets. With the progression of the country’s economy due to the IT sector support, firms dealing in the IT sector have opened their doors for Java developer recruitment via leading Candidate-Outsourcing channels like Teksands.
For a long time now, India has been branding itself as the world’s leading outsourcing destination for Multi-National Companies (MNCs). However, its progress got traction following the onset of the Covid-19 pandemic, which impacted the overall functioning of the country’s economy. On March 25, 2020, when PM Modi announced that the country would witness a nationwide lockdown for 21 days, the country’s economic framework was shattered entirely. With this news about the lockdown, investors took their money out from the share market, leading the country to experience the worst day in its market history.
However, after some time, the country started to progress following the relaxation in lockdown. The country’s IT sector was the major contributor in supporting the economic growth, which currently contributes around 12% of India’s overall GDP.
How Does The IT Sector Contribute To The Country’s Economic Growth?
The IT sector of the country deals in various industrial segments, including health, agriculture, manufacturing, education, banking, telecommunication, and a lot more. With a significant shareholding in all these sectors, the IT sector assists in the country’s overall growth to a great extent. This is why economic experts are predicting that the IT sector has the potential to turn India into a globular IT hub.
Primarily, this sector, through the support of IT professionals, including Java Full Stack Development engineers, covers IT services, IT-enabled services (ITES), e-commerce (digital business), Software and Hardware products, marketing, and a lot more segments. In short, we can say that the IT sector plays a critical role in defining the success of its associated sectors.
Emergence Of IT Sector As a Top Contributor To India’s Economic Growth
For many years in a row, the country’s economy was popular as a product-based economy. During that period, the contribution of the service sector was very marginal in the economic framework. However, things evolved with time, and the service sector started growing at a pace which was never seen before.
In the late 80s, computer devices started to rule the market with their simplified software applications. Not to mention, the development of computer applications at that time, too, was dependent on the Java language. This was why IT companies, such as Microsoft, Apple, and Google, prioritized Java developer recruitment. With the onset of the computer revolution, these devices have become a standard part of society, and the need for more developers has risen to entirely new levels. The advent of the Internet then supported the growth in the IT sector.
At present, the functioning of modern organizations entirely depends on the application of IT software in different forms. For instance, in the manufacturing sector, manual machines have been replaced with robots that are programmed especially to perform specific operations. Similarly, in the banking sector, software applications keep the customer’s data safe along with handling digital transactions. This is how the IT sector keeps the wheels of growth moving positively.
As the sector is moving straightforwardly in the positive direction, experts predict that the country will soon emerge as the world’s economic superpower. With this position in a global structure, the nation will witness the take over of the Silicon Valley of the US in terms of IT sector undertaking.
Hurdles On India’s Path To Emerge As The IT Hub
There is no doubt that India is progressing positively to become a global giant in terms of IT growth. However, its growth trajectory is not as simple as it looks from the far. The reason for this relies upon the challenges obstructing its growth trajectory. These challenges involve:
- Shortage of Skilful Employees: One of the major hurdles in the country’s path to success is the shortage of skilled employees. As per an estimate, every year, IT companies fire around 60% of their total intake. Firing employees at a high level is a concern for all. This is why firms prefer to tie up with employee training and development offering platforms like Teksands to address their cause.
- Unsupported Government Policies: According to leading industrialists and investors, the government’s position to provide ease-of-doing business facilities is non-supportive to foreign investors. This is the major cause why global firms prioritize other countries such as China, Vietnam, and others to set up their operational structure rather than operating in India.
- Insufficient Support To Foreign Firms Over Local: In India, companies hesitate to invest and run their software channels due to inadequate support from the local consumers. Inadequate support means the local populace prefers to use local things over imported goods. To a certain extent, supporting local products is good for the country’s growth. However, it is not so good for the country’s image at global levels.
- Qualification Gap: India’s education system prioritizes theoretical learning over application-based learning. This is why employers hesitate to hire freshers for their work requirements. To manage their human resource requirements, firms, rather than hiring freshers, prefer Java developer recruitment from Teksands like Candidate-Outsourcing platforms.
These are some hurdles obstructing India’s path from becoming the 21st century Silicon Valley.
In the given article, we have discussed how the IT sector of the nation grew to this growth level. Along with this, we have also tried to cover challenges that the nation is facing to become the next Silicon Valley.
Among major challenges which the country is dealing with at present, the issue of skill deficit is a highly concerning one. Companies, irrespective of their size structure, regularly struggle with the issue. Therefore, firms, in order to address their cause, prioritize candidate recruitment via Teksands employee training and outsourcing platform.
Teksands is a leading candidate training and outsourcing platform which offers its services to corporate companies looking for skilled candidates. People can check its services and training facilities by visiting its official website.