Service sector

Service Sector of Indian Economy contributes to around 55 percent of India's GDP during 2006-07. This sector plays a leading role in the economy of India, and contributes to around 68.6 percent of the overall average growth in GDP between 2002-03 and 2006-07. There has been a 9.4 percent growth in the Indian economy during 2006-07 as against a rise of 9 percent in the same during 2006-06. During this growth in Indian economy, the service sector witnessed a rise of 11 percent in the year 2006-07 against the 9.8 percent growth in 2005-06. The service sectors of Indian economy that have grown faster than the economy are as follows:

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Information Technology (the most leading service sectors in Indian economy) IT-enabled services (ITeS) Telecommunications Financial Services Community Services Hotels and Restaurants

There has been a 13 percent hike in the service sectors of trade, hotels, transport and communication in India's economy as compared to the 10.4 percent rise in the previous year. The financial services that comprise of banks, real estate, insurance, and business services witnessed a rise of 11.1 percent during 2006-07 against the 10.9 percent growth in the previous year. Service sectors including community, social, and personal services experienced a growth of 7.8 percent during 2006-07 as against 7.7 percent growth in the previous year. The service sector of India has also witnessed a remarkable rise in the global market apart from the Indian market. It has experienced a rise of 2.7 percent in 2006 from that of 2 percent in 2004. The broad-based services in the trade sector has undergone a large-scale rise. A statistics concerning the growth of India's service sectors are listed below:

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The software services in Indian economy increased by 33 percent which registered a revenue of USD 31.4 billion Business services grew by 82.4 percent Engineering services and products exports grew by 23 percent and earned a revenue of USD 4.9 billion Services concerning personal, cultural, and recreational had a growth of 96 percent Financial services had a rise of 88.5 percent Travel, transport, and insurance grew by 23 percent

The software services in Indian economy along with the export of products is growing at a massive pace and thereby witnessed an alarming rise of 35.5 percent and reached a lumpsome amount of USD 18 billion. The IteS and BPO sectors grew by 33.5 percent and earned a revenue of USD 8.4 billion. The service sector of Indian economy has been the most high-powered sector in India's economy. It has also been focusing in various investments of late. As Indian economy is looking forward for more liberalization, sectors like banking are on its way to loom large and occupy a more significant position in India's economy.

India it IndustryThe Indian information technology (IT) industry has played a major role in placing
India on the international map. Over the last few years the IT and BPO sector in India has become one of the major contributors to the country's growth. The IT/ BPO industry in India has contributed directly and indirectly to the economy by providing employment, generating revenues and creating value.

The Indian IT industry is mainly governed by IT software and services such as System Integration, Software experiments, Custom Application Development and Maintenance (CADM), network services and IT Solutions. According to the findings of National Association of Software and Service Companies (Nasscom) the revenues of the Indian IT-BPO industry will aggregate up to US$ 88.1 billion for the FY2011. The IT software and services sector alone will account for revenues upto US$ 76.1 billion for the same year. The export revenues earned by the sector will reach US$ 59 billion in FY2011 making the sector a holder of 26 per cent of market share of the total Indian export industry. The number of people employed with the sector will also increase to 2 million employees. Within the realm of exports the IT Services division grew at a rate 22.7 per cent in FY2010. It was the fastest growing sector accounting to aggregate export revenues of US$ 33.5 billion.

India's domestic IT Market

India's domestic IT Market over the years has become one of the major driving forces of the industry. The domestic IT infrastructure is developing contexts of technology and intensity of penetration. Despite resistance by Barack Obama against outsourcing the Indian IT/BPO industry still show an impressive rate of growth. According to a study conducted by Gartner, the IT/ BPO sector in India will grow at almost 19 percent till the next two years. By the end of the FY 2012, the domestic sector is estimated to expand to US$ 1.7 billion against the existing US$ 1 billion. Government initiative in India's domestic IT Market

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The Indian government has established a National Taskforce on IT with an aim of formatting a durable National IT Policy for India Endorsement of the IT Act, which offers an authorized structure to assist electronic trade and electronic operations.

Major investments in India's domestic IT Market

Industries
Infosys Technologies offers services to the following industries:

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Aerospace and Defense Airlines Automotive Banking and Capital Markets Communication Services Consumer Packaged Goods Discrete Manufacturing Education Energy Healthcare

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High Technology Hospitality and Gaming Insurance Life Sciences Logistics and Distribution Manufacturing Publishing Resources Retail Studios and Networks Utilities

IT
The IT Services offered by Infosys include the following:

Services

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Application Services Architecture Services Enterprise Quality Services Independent Validation Services Information Management Services Infrastructure Services Knowledge Services Packaged Application Services SOA Services Systems Integration Services

Engineering

Services

Infosys offers concept-to-market R&D and engineering services, which help its clients to improve their product operations. The services focus on the complete engineering value chain of different industries. Following engineering services are offered:

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Lifecycle Management Manufacturing Process and Plant Solutions Product Engineering

Consulting
make them capable to manage global business more efficiently. Following consulting services are offered:

Services

The consulting services offered by Infosys are meant to make its clients stronger and more competitive and also

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Core Process Excellence Information & Technology Strategies Learning & Complex Change Next Generation Commerce Product Innovation

BPO
Infosys Technologies Ltd. has a strong BPO division that delivers world-class process outsourcing.

Services

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Offerings by Industry Aerospace and Automotive Banking and Capital Markets Communication Service Providers Energy and Utilities Healthcare Insurance Life Sciences Manufacturing Media and Entertainment Retail and Consumer Packaged Goods Services Transportation and Services Offerings by Function Business Platforms Customer Service Outsourcing Finance and Accounting Human Resource Outsourcing Knowledge Services Legal Services Order Management Sourcing and Procurement Outsourcing

Products
Infosys has got the following products and platforms that offer holistic and integrated transformation approach.

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Collaborative Analytics Infosys ActiveDesk Infosys iProwe Infosys mConnect Infosys Unified Communications and Collaboration (UC)

Finacle
Finacle solutions are meant for the banking industry. Following are the solutions provide:

Solutions

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Core Banking e-Banking Mobile Banking Treasury Finanz Tools CRM Alerts Wealth Management

Indias IT market to reach $24 billion by 2011

Despite fears of a global recession India is showing rapid growth, with Indian firms increasing their IT budgets an average of 13 percent this year
Indian firms are increasing their IT budgets an average of 13 percent this year, far more than the global average of 3.3 percent, research company Gartner said Wednesday. The country's domestic IT market is also forecast to grow at a five-year compound annual growth rate (CAGR) of 20.3 percent, reaching $24.3 billion by 2011. While there are fears of a global recession, India is showing rapid growth, said Peter Sondergaard, global head of research at Gartner, in a conference call. The increased spending by Indian CIOs is directed primarily towards building new business capabilities, with 30 percent of IT spending allocated to business growth and 19 percent to business transformation, Gartner said. Indian enterprises will make heavy investments in bringing the base infrastructure up to global standards, said ParthaIyengar, Gartner's head of research in India. A key problem for Indian CIOs is attracting and retaining quality staff, as they are competing with Indian and multinational IT services companies, Iyengar said. India's IT services market is forecast to grow to $10.73 billion by 2011 at a five-year CAGR of 23.2 percent, propelled by Indian companies that are outsourcing some of their work to other Indian and multinational companies due to staff shortages, Gartner said in January.