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India: The hub for IT solutions

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India has established a reputation as the global leader in software outsourcing for more than two decades, but product firms, which are seen as the mark of a true technology powerhouse, have been few and far between. With Premium IT companies springing up in droves across India, that anomaly is about to be rectified. While India is still a long way from having a Microsoft or a Google, technology companies have quietly cropped up all over the country to produce products and solutions that cater to the needs of local enterprises. Unlike Infosys or Wipro, which are providing global IT services as per the demands, product firms, offshore development centers are creating breakthroughs that are developed in India with the help of expert technocrats, by Indians, and for Indians.

From assisting in the gathering of fingerprint to iris data for the Aadhaar card, these companies are harnessing cutting-edge technology to deliver tailor-made solutions for Indian needs. A senior vice-president of the National Association of Software and Services Companies(NASSCOM) remarked, "We have reached an inflection moment". She projected that the country's ecology is just about ideal for product creation, and that India is going to emerge as a leader in software goods.

How India has a better ecology system to nurture IT companies?

India currently has the world's second-largest telecom market. India now has a 28.7% internet penetration rate. According to estimates, a 10% increase in broadband penetration in a country might result in an increase in GDP of more than 1%. According to the Ministry of Communications and Information Technology, the Digital India initiative offers a $1 trillion commercial opportunity.

The number of Wi-Fi hotspots in the country is increasing, which is helping to boost connectivity. In the current situation, a large percentage of the population does not have access to the internet. It's critical to develop a clear strategy for achieving the government's goal of 7.5 lakh Wi-Fi public hotspots by the end of the year. At the same time, the greatest concern is the cyber threat. Even some "next-generation" solutions are insufficient, forcing an organization's personnel to piece together a patchwork of endpoint agents.

Why India need a better IT usage applications?

In healthcare consultations, patient care, and pharmaceutical distribution, technology will play an increasingly important role. We believe that digital adoption will play a big role in the $100 billion Indian healthcare sector in 2016, which is predicted to increase at a 22 percent CAGR to $372 billion by the end of 2022. At the same time, India's use of e-commerce is rapidly increasing.

The era of robotic process automation (RPA) will give way to a new era of digital process automation (DPA) and business process automation in the future. Intelligent Process Automation (IPA) is a new trend that combines Robotic Process Automation with Artificial Intelligence and related emerging technologies such as Cognitive Automation, Machine Learning, and Computer Vision.

How current Indian IT companies help society?

The Indian Railways, for example which has an annual budget of over 60,100 crore, has recognized the importance of embracing local product innovation. Stelling Technologies, located in Noida, has built a technological platform called trainenquiry.com that offers passengers with customized, real-time information about their journey and the train's whereabouts via mobile phones and the Internet. Stelling has been working on the platform with the Centre for Railway Information Systems since 2011.

On other side, Vyoma Technologies, based in Bangalore, saw a business opportunity in targeting the millions of individuals who buy tickets at railway reservation desks with adverts for its clients, just like Stelling did. For clients such as Canara Bank, ITC, and the tourism departments of Gujarat and Tamil Nadu, Vyoma has connected its software with the railway booking system and built dual display infotainment systems at reservation counters.

Like this, many sectors are increasing their productivity with the use of information technologies.

Future Market

The market is evolving due to multiple disruptive mechanisms in place, and we've seen hardware's influence expand progressively.

The world's leading businesses want to quickly and globally apply their technological expertise. This aim necessitates a "go anywhere" approach that enables cloud-style infrastructure in hundreds or thousands of places, from 5G to mobility to mobile gaming. Finally, in 2019, "edge computing" took the lead because it is closer to the data source than relying on remote cloud datacenters to perform the task. The cloud's edge will become the most intriguing frontier.

IT Companies with legacy systems and antiquated staff will confront issues in surviving the disruption as the industry implements digital transformation in the form of AI, machine learning (ML), data analytics, automation, robotics, blockchain, cloud, and the Internet of Things (IoT).

At last, due to the availability of a global-standard qualified workforce and best minds pool at reasonable pricing, India is one of the most popular offshore outsourcing locations. Aside from IT, we're seeing more and more essential tasks in HR and payroll management, digital marketing, SEO, online reputation management, and social media marketing outsourced to India.

Covrize's one step towards on IT revolution

We offer assistance in businesses and startups in selecting flexible, scalable, and cost-effective technology solutions and software products that connect with their business goals and improve their IT services and strategy.

Dive into the sea of possibilities to learn more about what to look for in a data-driven solution as you begin your digital transformation journey.

Gautam Sharma

A VP of sales and partnership at Covrize, Gautam Sarmah has been in the IT outsourcing industry for 12+ years. In addition to his deep industry knowledge, Gautam helps Covrize create go-to-market strategies and Business Development and Operations. At Covrize, Gautam pursues business opportunities across geographical boundaries.