Industrial Growth and Employment

The IT and telecom industries are the two largest components of the industrials sectors but with different accents. The IT industry focuses on software development and application development whereas the telecoms industry is all about telecoms and communications. The telecoms sector includes telecommunication and voice-based technology sectors, like telecommunications engineering, phone systems, data and wireless technologies, Internet telephony, and networking.

The other two main components in the IT and telecoms industries include construction materials and machineries, automobiles, chemical products, electrical and electronics, and health care. The other components in the IT and telecoms industries are financial services, consumer and industrial products, energy, and finance. The other large components in the IT and telecoms industries are distribution, information technology, consumer and industrial products, health care, global supply chain, government and education. The IT and telecoms industries together comprise over three hundred and fifty million jobs and constitute more than six percent of India’s total employment. The IT and telecoms sector contributes largely to the Gross Domestic Product (GDP) of almost every country in the world.

However, the IT and telecoms sectors contribute equally to India’s Gross Domestic Product (GDP), while the other sectors contribute very less to this country’s GDP. The IT and telecoms sectors have contributed to almost seventy percent of India’s GDP through technology, while the other sectors have contributed ten percent. The other ten percent comes from manufacturing, agricultural, informal sector and trading. The capital goods and liquid fuels sectors also contribute to India’s economy. With nearly one hundred and twenty three percent of the Indian population being active users of computers and related technology, it is not surprising that there is a huge demand for computer manufacturing plants in India. The capital goods and liquid fuels sectors also help the country’s economy, as they form seventy percent of India’s trade and indirectly contribute to inflation.