What Do You Know About The Indian Software Industry?

As relatively poor country, India is not normally though off as a nation capable of building a major presence in a high-technology industry, such as computer software. In little over a decade however the Indian software industry has astounded its skeptics and emerged from obscurity to become an force in the global software industry. Between 1991-92 and 2001-02 sales of Indian software companies grew at a compound rate in excess of 50 percent annually. Most of this growth was powered by exports. In 1985 Indian software exports were worth less than 10 million dollars. They surged to 1.8 billion dollars in 1997and hit a record 6.2 billion dollars in 2002, with some two-thirds of those exports going to United States.  The future looks very bright. Powered by continued export-led growth, India's national association of software and service company's projects that total software revenues generated by Indian companies will hit 21 billion dollar by 2008.

Most of the current growth of the Indian software industry has been based on contract or project based work for foreign clients. Many Indian companies for example maintain application for their clients, convert code or change software from one platform to another.  Increasingly Indian companies are also involved in important developments projects for foreign clients.