September 19, 2011: Is Indian Information Technology (IT) companies matured enough to deliver well profiled products is still a big questions. The sector might have grown and done innumerous achievement globally in the Information Technology service sector but, as far as IT products are concern the nation is still behind and has to struggle to come up. On one side we can see most of the top Indian companies in the Information Technology (IT) sector are today began or planning to begin operations in the overseas and on the other side there are small companies or entrepreneurs shifting themselves from product arena to service arena. Now, the question is if Indian Information Technology is so strong then why is it that many new entrepreneurs shifting themselves from product arena to service arena.
More than hundred entrepreneurs have entered the IT industry with different product lines but as if now, few have survived. And others are finding it more comfortable to concentrate more on the services. It is high time that the Indian Information Technology sector and companies become more conscious and concentrate on providing better products.
As far as the IT service companies are concern, more concentration are given to adopt innovations and cutting edge technologies to make them more efficient in the global world. COO of one of the leading Business process Outsourcing firm Genpact, N.V. Tyagarajan commented that majority of their clients are overseas and even share holders, thus employees should also be from overseas. Today to become globally recognized it is required to have global advantages. Hiring host country nationals is one among the prior considerations made today to meet global advantages. Another top executive of a leading company said that the cost incurred is ultimately the same even if some one is hiring from Indian or from US. In India the attrition rate is so high that the company has to overcome the hurdle of loosing more than 6 to 7 employees per month. Thus staffing is another critical factor at present in the changing business world.
It is recommended that new entrepreneurs looking forward to enter into the industry must be more couscous. A clear vision from the product to finance to staffing is required. It is very easy to set up and tech business in India provided you have raised enough capital. But the changing scenario will increase the challenges in the long run. All you need is handwork, perfect vision on what you have to do and achieve and flexible maturity to adopt the changing business dimensions in the Indian Information Technology (IT) sector.