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The Indian IT sector is one of the fastest and consistent growing sectors in the Indian economy. With the revenue for the FY 2006-07 being US $ 47.8 billion, India has emerged as the IT hub of the world. The sector is expected to contribute around 5.4% to the GDP of India. Indian IT sector has established itself as the most preferred destination for outsourcing the various IT services by organisations across the world; and has given many world leaders in the industry like TCS (Tata Consultancy Services), Infosys, Wipro etc. The sector can be classified into 4 broad categories:

1. IT Services
2. Engineering Services
3. ITES-BPO Services
4. E Business
India is exporting various software and other IT services to more than 110 countries around the world. India offers the advantages of offering the low-cost competitiveness, highly skilled and English-speaking professionals, quality It infrastructure, proximity to other continents, high security and quality standards and the increasing investment of MNCís in India. With the maturing global market and the emergence of the new locations, India is expected to retain its leadership position as the provider of outsourced services.

The estimates for the Indian IT-ITes sector for the year 2008 are as follows:

  • Annual revenue to cross US$61 billion.
  • Software and Services is expected to contribute over 7.5% of the GDP of India.
  • IT exports will constitute 35% of the total exports of India.
  • The IT sector will employ more than 2.2million people.
  • The IT sector will see great amount of FDI (estimated to be US$ 4-5 billion).
  • Market capitalization of IT shares will be approximately US$225 billion.

Employment in the IT sector:
IT sector is one of the strongest sectors of the Indian economy. The total employment in the IT sector in 2006-07 was 1.6 million people. The sector provides lucrative career opportunities to the lakhs of engineering and computer science professionals. Where India has become the IT hub of the world with most of the international and renowned Indian players, it also produces the second largest force of engineering students every year (more than 500,000).

Compensation and Attrition:
IT sector pays the best and highest packages in the Indian industry. The sector provides direct employment to engineers, computer science professionals and graduates, apart from the other management support functions; and creates indirect employment opportunities for various other services.

Inspite of the large pool of the engineering graduates every year, only around 25 percent of them have been found capable of being hired by the IT corporates. To overcome the widening gap between the demand and supply of the technical workforce, many companies like IBM, Cognizant, TCS etc. have tied up with several engineering institutes across the country to provide practical training, required course structure and internship opportunities to the students.

Contrary to its consistent growth, the sector is facing the jitters of high attrition rates. The attrition rates in the sector are constantly high at around 30 percent from the past couple of years. And the sector is seeking professionals with IT acumen.

Naukrihub ranking attempts to rank companies on basis of various HR practices, procedures and policies prevalent in the IT sector. Ten companies are selected on random basis from the industry. The focus of the ranking is on the various HR parameters and factors that would motivate a job-seeker to join, and stay and grow with an organisation. A few parameters are recruitment practices, compensation policies, work culture, recognition for good work, retention, flexible work timings, et al. The scores are consolidated on the basis of data collected through recent surveys and studies by renowned names like Business Today, Hewitt Associations, IDC Data Quest, NASSCOM and our own study of the organisations. Some of the key players in the sector are TCS, Infosys, Wipro, HCL, RMSI, Sapient, CSC and Accenture, Dell, IBM, Microsoft.