Gartner: IT Industry Grows in India

Full Article via MaddiRuhl @ KioSkea.Net

Technology research firm Gartner has reported a growth of 13.3 percent within the top five Indian IT providers in 2012.

It’s a good time to be in the tech industry in India. The top five Indian IT service providers TCS, Cognizant, Infosys, Wipro, and HCL Technologies, have a cumulative growth in 2012 of over 13 percent. This growth amounts to over $34 billion. This was a huge jump from the previous year, which totaled at a growth of only 2 percent. Leading the growth curve is Cognizant, and the company which saw the least growth was Wipro. “Cognizant displaced Infosys to become the second-largest Indian IT services provider, and Cognizant experienced the highest growth rate among the top five providers with 20.1 per cent in 2012,” stated Garter research director Arup Roy.

Many of the top Indian IT players are becoming increasingly focused within the nation, housing their headquarters within the country, hiring employees from India, and providing services for India. While the country still holds over $100 million in outsourcing contracts from abroad, companies are starting to shift towards providing for India itself. It is not surprising to see increasingly India-centric businesses thriving at this point in time. WikiLeaks recently published documents which reflect a resistance to more foreign investmentsin India, indicating that the nation is gearing up to become a more powerful provider in the future.