The newspapers and online news portals are buzzing with alerts indicating to economical destruction our country is about to witness and witnessing now. Fall in the sale and shut down of manufacturing units of several automobile agencies in India is a clear sign of what is in consumers’ minds.
When did economic shortfall start in India?
As per the reports and data, it looks as if each person has been through a lot since the Prime Minister of India announced and implemented Demonstration. Otherwise, before that, no one complained about the economic crisis, or none among the citizens questioned the increased demand for commodities that were not even a necessity. So why now, when everything is flowing as per the need and when the consumer is aware of his needs and is focused to meet them?
We don’t know. And while we are at it we should try to focus on the ways to get the best of it.
Why slowdown seems to have made no effects?
IT has relentlessly supported the economy of 1 in 30 Indians and its growing scope is evident. This is all because most of the Indians in IT focused on clients from the USA. The largest part of the revenue generated in IT business comes from US-based clients and agencies. Therefore, the measures taken up by the finance ministry of India seem to have made a minimum of no effects at all.
But if there is an economic fall in America then the IT industry India might suffer.
What is the scenario of growth in IT:
No matter how many times the future of IT is questioned by the politicians of the opponent party, the growth will find ways to tell you that the IT industry is on a hike.
With everything going digital, the rise in potential candidates to carry out the work is evident. IT cannot witness a recession or fall in India. This came as a guarantee when the Ministry of Information and Technology India launched the Digital India campaign in 2015. The campaign came with a motto: “Power to Empower.” The vision of Digital India is to empower e-governance in India.
The dependency on the digitalized mode of meeting the needs is increasing. 3 in 5 Indians own a smartphone. And smartphones are all about applications. Applications developed by India based programmers or overseas-based businessmen.
It is not wrong to say that India wants to work for dollars and one who has dollars wants potential people to carry out their work. The US has always been inclined towards Indians because we charge much cheaper rates than that of china or other European countries. Also, our exceptional knowledge and spirit have always been the honey to the US.
Extract: The IT industry in India is immune to economic downfall because around 80% of IT firms and individuals in India have US-based clients. Therefore, even the worst of recessions in India cannot harm the firms and individuals working under the IT industry.
Now if you catch someone pointing out the downfall of the Indian IT industry, all you need to do is send the link to this article.