India has a booming IT sector that is creating openings in various sectors of the economy. The country’s economy is growing at a very fast pace and this has prompted companies from around the world to set up operations here. The government has also encouraged IT professionals to move to the country, thereby making it one of the most preferred locations for technology companies. Several factors have helped India emerge as a hot destination for technology companies. Below is a list of these key factors:
Low cost of labor – India is emerging as one of the low-cost labor destinations. This is because India offers a favorable combination of favorable weather conditions, low cost of labor, as well as its proximity to other parts of the world. As compared to other countries, labor cost in India is relatively lower. Many multinational companies have come up in India, which further explains the low labor cost.
High quality of education – With over a hundred and forty million people who are enrolled in colleges and universities in India, there is a huge demand for technology-based jobs in the country. The rising number of students enrolling in bachelor’s and associate’s degree programs in various programs across the country makes it a hot market for graduates. The cost of education is also very less in India compared to other countries. In India, there is a very strong presence of technical schools that offer quality courses in IT. These schools are making themselves visible in the global market as more students are enrolling in their courses.
Large market – India has a large market with over 5.5 Billion people. This makes it a very lucrative market for companies dealing in technology. Besides that, the state governments in India have made it easier for the companies to set up shop in the state and hire skilled manpower.
A large base of talented engineers – India has a large population that is highly educated. Also, the country is home to people from all over the world, which is another huge talent pool. Companies can easily tap into this pool of talented engineers to improve their technology presence in the market. Moreover, Indians are open to learning technology. They easily adapt to new technology, especially when it comes to internet applications. As a result, there is a huge base of technicians and engineers in India that can easily adopt the technology.
Technological unemployment – The growing demand for technology professionals is another major factor behind the increasing demand for IT jobs in India. Many young people who are looking for job opportunities in IT are also leaving their respective countries to pursue IT jobs in India. As a result, the demand for professionals like software developers, computer engineers, network engineers, and testers is also on the rise. This is expected to create a pool of candidates for companies that are hiring for positions related to IT and software training.