Indian Information & Communication Technology (ICT) sector is valued at more than USD 400 billion and is one of the iron pillars of the economy. India is the market leader in the IT & Business Process Outsourcing (BPO) industry. Major IT hubs in India include Bangalore, Hyderabad, Pune, Mumbai, Chandigarh, Gurgaon, Noida, etc. Besides software development, testing, and BPO, Indian IT is also scaling up to advanced technologies such as Machine Learning, Internet of Things (IoT), AI, etc.
The Indian telecom sector which includes Mobile Virtual Network Operator (MVNO), infrastructure, handset, broadband internet, telephonic service providers is collectively valued at over USD 200 billion. Like IT, it is also playing a significant role in India’s economic growth and progress. Mobiles telephony currently dominate 98% of the market, while landline phones have the remaining minuscule share of ~ 2%.
India is also the 2nd largest internet market in the world after China. However, It is also believed that whatever has been explored so far is just the tip of the iceberg. The market has much bigger potential. This is one of the reasons major IT giants such as Google, Amazon, Facebook are eyeing India. In July 2020, Google announced to invest USD 10 billion in India. In April, Facebook has bought a 10% stake in Reliance backed Jio following an investment of USD 5.7 billion.
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