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Elon mast

Occupy mars • 1y

Here is a story of indian IT industry Genesis (1970s): 🔸In the early 1970s, multinational companies recognized India’s potential and began expanding their operations into the country. 🔸Tata 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. 🔸Challenges included the absence of a local market and unfavorable government policies regarding private enterprises. 🔸Initially, Indian IT firms primarily supplied programmers to international companies overseas. 🔸The state-controlled economy posed hurdles, with high import tariffs on hardware and software. 🔸Software wasn’t officially recognized as an industry, affecting exporters’ eligibility for bank finance. TURNING POINT(1980) 🔸In 1984, Prime Minister Rajiv Gandhi introduced the New Computer Policy (NCP-1984)........ Continued.

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Elon mast

Occupy mars • 1y

🔸Reduced import tariffs on hardware and software (up to 60% reduction). 🔸Recognition of software exports as a “delicensed industry,” making exporters eligible for bank finance. 🔸Permission for foreign companies to set up autonomous, export-dedicated units. 🔸Establishment of software parks for infrastructure at lower costs. 🔸Work shifted to India, despite friendlier policies for foreign firms. This shift led to Bangalore’s development and the relative decline of other centers like Mumbai. 🔸Multinational firms also adapted to new policies, contributing to India’s IT growth. EVOLUTION (990s and Beyond): 🔸Since the 1990s, value-addition increased, and domestic firms became less dominant. 🔸India’s talent pool attracted work due to cost-effectiveness. 🔸The Indian IT industry’s journey—from overcoming challenges to becoming a global powerhouse—reflects resilience, innovation, and adaptability.

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