The Indian IT market crossed the $25 billion mark in 2004 market and is predicted to grow to $65 billion by 2009, a compounded annual growth rate of 21 percent.

Introduction

Technology has the power to transform society. The most famous example of this is German craftsman Johannes Gutenberg’s invention of the printing press in the fifteenth century. Washington Post columnist Robert J. Samuelson sums up the vast changes that occurred as a result of the invention of printing: “Gutenberg’s press led to mass literacy, fostered the Protestant Reformation (by undermining the clergy’s theological monopoly) and, through the easy exchange of information, enabled the scientific revolution.”

Subsequent technological advances are also often evaluated in terms of the effect they had on society. James Watt’s steam engine, for example, is often credited with starting the Industrial Revolution in England. Today, the Internet and associated information technologies are said to be behind an information revolution that is transforming the way people live and work.

Indian market

The Indian IT market is predicted to grow to $65 billion by 2009, a compounded annual growth rate of 21 percent. As per recent data released by IDC, the IT market of India crossed the $25 billion mark in 2004. This included a contribution of $16.7 billion from exports, and $8.5 billion from the domestic market.

According to IDC, the domestic market grew by 22.9 percent over 2003 and the growth primarily came from IT services (26 percent), PCs (25 percent), dotcom products (32 percent) and multifunction devices (48 percent).

Thus, the domestic IT market is clearly on a growth trajectory and the YoY growth rate is expected to peak at 23.3 percent in 2005, the highest during this business cycle (2004-2009). IDC predicts that the domestic market will grow at an average rate of 17 percent for the period 2004-09 and will move from Rs 38,303 crore in 2004 to Rs 84,878 crore in 2009.

The IT exports market on the other hand grew by 32 percent in 2004 (in rupees) touching Rs 75,477 crore revenue. IT services exports clocked Rs 51,047 crore whereas ITeS and hardware exports clocked Rs 24,430 crore. The growth came primarily from BPO services, which grew by 42 percent in 2004. IDC predicts that the export market will grow at an average rate of 22.2 percent touching nearly Rs 2, 06, 000 crore by 2009.

Preparing for an Information Technology (IT) career

There is no universally accepted way to prepare for a job as an information technology (IT) professional. Although a bachelor's degree is often required and relevant work experience is very important, many people develop their computer skills while working in other fields. Technical or professional certification is becoming a common way to measure competency in prospective employees.

Entry-level employees and students can enhance their employment opportunities by participating in programs (such as internships) or having a related background in an industry that uses information technology (such as financial services, banking, or accounting). The continual study of new technologies is necessary to keep computer skills current.

Whether you're already in a career or still in school, there are many resources available to help you learn more about IT careers. A good way to start is to identify IT jobs that interest you, find out about the skills you will need for that job, assess your current skills to identify what you must learn, and then access the training options that will help you build the skills you need.

The table below outlines resources you can use to start preparing for a career in the IT industry.