Thanks to its treasure-trove of skilled manpower and high growth of software export, India is a true IT powerhouse. And despite the current slowdown in the United States, Indian companies' overdependence on the American economy, and a weak dollar, the Indian IT juggernaut is on a roll. So where in India has the IT boom really taken off? And which are India's hottest IT spots? Read on. . .
1. Bangalore Bangalore's (or Bengaluru's) ten-fold growth in quick time can be traced back to the IT boom over the past few years. Bangalore's main activity is information technology and information technology-enabled services. Being the leading contributor to India's IT industry, it has been dubbed the Silicon Valley of India. Home to many software majors, like Infosys and Wipro, Bangalore accounted for 33 per cent of India's Rs 144,214 crore ($32 billion) IT exports in 2006-07.
A recent study also revealed that the rupee millionaire club in Karnataka's capital is the largest in India. Bangalore also boasts of having the largest number of households with an annual income of Rs 10 lakh (Rs 1 million) or more. Needless to say, the city owes it all to the IT boom. Little wonder then that Bangalore is the number 1 IT desitnation in India.
Image : Infosys campus in Bangalore.
2. Hyderabad - Like Bangalore, Hyderabad too has witnessed an IT boom in recent times, with software exports exceeding $1 billion in 2004. Of late, the city has seen huge investments in digital infrastructure. It is the second most attractive IT destination in India. On February 19, 2008, the Indian government cleared seven projects, estimated to fetch about $7 billion over 10 years to Fab City, a silicon chip manufacturing facility, in the city. The capital of Andhra Pradesh has also made considerable progress in the field of bio-technology through initiatives like Genome Valley and Nanotechnology Park.
Image: Cyber Gateway in Hyderabad.
3. Chennai -Chennai is the country's third-largest exporter of information technology and information-technology-enabled services, next only to Bangalore and Hyderabad. Experts say that the city has the potential to beat Bangalore and Hyderabad in terms of infrastructure and thus gain the position of the most attractive IT destination. Today, it is the third most preferred IT spot in India. The software companies having their development centres in the city, are well positioned to tap the growing healthcare market for IT products and the emerging opportunity in life sciences. Companies like Tata Consultancy Services, Cognizant Technology Solutions and Covansys earn the lion's share of their income from what they offer to the US healthcare market. The capital of Tamil Nadu is often looked upon as the most reasonable and reliable outsourcing destination for IT and healthcare solutions.
Image : Mahindra World City-Chennai.
