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Elon mast

Occupy marsĀ ā€¢Ā 1y

Here is a story of indian IT industry Genesis (1970s): šŸ”øIn the early 1970s, multinational companies recognized Indiaā€™s potential and began expanding their operations into the country. šŸ”øTata Consultancy Services (TCS), acting as the sales agent for Burroughs (a mainframe manufacturing company), played a pivotal role. In 1974, Burroughs asked TCS to provide programmers for system software installation for an American client. šŸ”øChallenges included the absence of a local market and unfavorable government policies regarding private enterprises. šŸ”øInitially, Indian IT firms primarily supplied programmers to international companies overseas. šŸ”øThe state-controlled economy posed hurdles, with high import tariffs on hardware and software. šŸ”øSoftware wasnā€™t officially recognized as an industry, affecting exportersā€™ eligibility for bank finance. TURNING POINT(1980) šŸ”øIn 1984, Prime Minister Rajiv Gandhi introduced the New Computer Policy (NCP-1984)........ Continued.

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Elon mast

Occupy marsĀ ā€¢Ā 1y

šŸ”øReduced import tariffs on hardware and software (up to 60% reduction). šŸ”øRecognition of software exports as a ā€œdelicensed industry,ā€ making exporters eligible for bank finance. šŸ”øPermission for foreign companies to set up autonomous, export-dedicated units. šŸ”øEstablishment of software parks for infrastructure at lower costs. šŸ”øWork shifted to India, despite friendlier policies for foreign firms. This shift led to Bangaloreā€™s development and the relative decline of other centers like Mumbai. šŸ”øMultinational firms also adapted to new policies, contributing to Indiaā€™s IT growth. EVOLUTION (990s and Beyond): šŸ”øSince the 1990s, value-addition increased, and domestic firms became less dominant. šŸ”øIndiaā€™s talent pool attracted work due to cost-effectiveness. šŸ”øThe Indian IT industryā€™s journeyā€”from overcoming challenges to becoming a global powerhouseā€”reflects resilience, innovation, and adaptability.

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