The recession in the United States also impacted the IT community in India negatively. This segment is promising and has vast potential, but there are concerns regarding the demand-supply gap, which is widening. Some challenges which the industry is facing are inadequate infrastructure, tax issues and limited preferential access for local firms. China and Taiwan are examples of low cost destinations, and India needs to change its current tax structure so that it can outdo competition from other countries.
One of the biggest benefits that the computer and IT industry provides in India is the employment it can generate. Other benefits are export and Foreign Direct Investments (FDI). New markets have opened up in the Middle East, Africa, Eastern Europe, and South and South East Asia. India is now a major destination for IT outsourcing. There is no dearth of IT job opportunities in India. In fact, India is expected to overtake the US to have the most number of software developers in 2018 (52 lakh developers in India against America’s 42 lakhs.)
The top IT companies in India that offer job opportunities in this field are Tata Consultancy Services (TCS), Wipro Technologies, Cognizant, Yahoo!, Google, Tech Mahindra, Infosys Technologies, HP ,Capgemini, iGATE Patni, Accenture, L&T, EY, Convergys, MphasiS, Genpact, HCL Technologies and Godrej Infotech.