India's Booming Technology sector

It's been 10 years since the term Bric was coined by Goldman Sachs economist Jim O'Neill to group together the emerging markets of Brazil, Russia, India & China to become Partners in trade. In that time India's technology sector has been growing particularly in Bangalore India's center of ICT and Technology.

Many major Indian and International ICT Companies have made Bangalore its India hub and Search giant Google has made it their home, Bangalore is India's Silicon valley. From humble beginnings India's leading ICT company Infosys has very much put India on the map as Infosy has gained a strong reputation on the world's technology stage. KV Kamath the Chairman of the IT Conglomerate states that India has always had the brainpower but  it's only in recent years that the infrastructure has started being put in place to bring the Industry together. India has the largest and most youthful work force on the planet, they are well educated and more important technology literate so the ICT Industry in India has all the attributes to dominate this industry for many years to come.

The ICT industry in India in recent years has tended to be focused as more of a service center for the world's ICT Industry but now the sector is changing as India looks to become a key player in all ICT sectors as India starts thinking big. In just over 10 years the Indian ICT industry has grown from 1.2% of India's GDP to 6.4% now. NASSCOM, the main trade group for establishing Indian IT companies, has about 1,350 members and growing.

Some companies in India are moving away from just providing back office and services to being fully functioning manufactures of technology, One example would be Tech firm LACS which designs and sells tablet computers.  The Indian government is placing a lot effort to develop the ICT and Technology industry and its see it as an Industry that India can excel. India as a long way behind its neighbors and Bric Partner China which now manufactures 90% of the world's electronics. As long as the government makes the appropriate level of Investment in terms of building up Hardware Hubs and Fully integrated manufacturing centers then India can become a key manufacture center.

BricPartner states that India has the work force, the government is investing in infrastructure so as long as it can keep its cost down then it has every chance to build up its manufacturing base in ICT, Technology and Electronics Industry. Bangalore has been a success story in terms of providing support services to the worlds ICT, Technology and Financial sector and now in the next few years  India companies will focus more on Innovation  of products which will help the Industry grow and develop. The Indian Technology sector is aiming to hit total revenues for software and services of $90bn by the end of 2012.