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IT Sector- Techno Functional Requirements

The IT Sector is booming on India thanks to congenial policies and tremendous talent available in the country. As per a recent estimate, the sector is expected to generate exports of 60 billion $ and contribute to around 8% of India’s GDP in coming years. Not only are off shore operations of the Indian IT companies contributing significantly to their overall revenues, even their local operations are on upswing. Sectors like banking, capital market, finance, manufacturing government, etc. are all gung ho about IT and their apparent benefit to improve processes and operations. According to industry estimates, this upswing will lead to India registering the fastest growth in the Asia Pacific region.

Manpower Requirements
The surge in the sector means positive news for employment generation and manpower requirements. While on the one hand it will lead to generation of more and more employment, on the other hand, it would also means that the manpower is also employable. This means that quality and industry relevance of education and experience gained by professionals would be given overriding importance as more an more critical and core operations of companies would need to be integrated with the help and support of IT.

As per industry estimate, India will fall short by almost 50000 ‘relevant IT professionals’ by the year 2010. What it means that the future growth of the sector is hugely dependent on availability of right kind of talent in the field. The talent would not only be having only pure technical knowledge and expertise but also functional and operational knowledge and understanding of processes. The IT sector is in critical need of techno-functional professionals who can act as a catalyst of change for clients and provide best possible solutions to business problems. All this would require a thorough understanding of business processes and ability to dissect the problem areas and find critical solutions. The next round of growth in the sector will be enjoyed by companies and professionals who can assimilate both technological knowledge and understanding and functional expertise and domain knowledge. Therefore the requirements for techno savvy professionals in the field is only going to rise and that too on a massive scale as there is a huge shortfall in this area.

Future Trends
As Indian companies find large number of projects and contracts to be executed overseas as well, there is a requirement to update oneself on an ongoing basis and that too on a much larger canvass. This would require understanding the business practices and processes of clients and ability to assimilate the critical elements involved therein. The future growth of the sector is thus hugely dependant on this critical ability of the IT workforce. How well the Indian companies respond to the challenge and build a reputation for providing world class solutions will mean the difference between success and failure.