“Future belongs to India with a great share of work from different parts of the world and placement of Indian experts across the globe”
By MYBRANDBOOK
CIO priorities for 2022
The priorities are:
a) STREAMLINE THE HIRING PROCESS
Competition for available talent will remain tight in the new year. “The procedure of selection of a candidate is to be streamlined and the approach is to select the best man for the job and the person is supposed to deliver the results.”
b) BUILD A CULTURE THAT DELIVERS
For those who can look beyond numbers, “team and company culture can be a major factor, a team work is required to achieve desired results”.
C) TO KEEP PACE WITH PRESENT WITH AN ADVANCE STEP IN FUTURE
It is very essential to be familiar with the latest advancements in technology and its use in the healthcare industry. The members of the team should keep a track on the new technologies and its usage in their organization. The core members must keep a track on the integration of new technologies and government ideology.
Technology & Brand amalgamation
Digital transformation is an ongoing process of constantly assimilating new knowledge, and using it to create the best experiences for our consumers. The pace of innovation is accelerating, and the fragmentation of consumer attention is accelerating even faster.
Organisations have realised that digital is no longer an option and has to pervade all levels of an organisation. Digital adoption and smart data analytics enable an organisation to become more agile, improve customer experience and drive operational efficiencies.
However, with the rise and rise of technology, cybersecurity has also taken a vital position. After all, data breaches are becoming a common event today.
IT: The Future of India
In the present time, when the COVID-19 pandemic has grappled the whole world and economies have been hard hit. The Indian IT industry is still showing positive signs and has the ability to overcome this exceptional catastrophe. It has arisen as a global economic force and a major contributor to the Indian economy in particular and the world in general.
In the last decade, India has emerged as an IT hub for the software companies of the world and Indian software companies have taken prominent positions in the global IT sector. India has become the world’s largest sourcing destination for the IT industry. Online retailing, cloud computing and e-commerce are all contributing to the speedy growth of the IT industry.
The Indian IT industry has grown rapidly with an exponential growth rate after the economic reform of 1991-92. Indian IT companies have set up thousands of centres within India and around 80 countries across the world. The majority of global corporations are sourcing IT-ITES from the Indian IT industry, accounting for approximately 55% of the global service sourcing market (US$ 200-250 billion) in 2019-20.
The market size (especially export) of the IT industry has grown manifold from approx. 67 billion US dollars in 2008-09 to 191 billion US dollars in 2019-20. The revenue is further expected to grow in the coming years with an accelerating growth rate and expected to reach 350 billion US dollars by 2025.
The remarkable feature of India’s IT industry is that along with its expansion in terms of market size it is also incrementally adding a significant share to India’s gross domestic product (GDP) and consequently boosting the growth and development of the country.
The IT industry has steadily augmented and accelerated the growth of India. This Industry absorbs a large pool of Indian skilled human resources which makes the country a global IT hub. The IT Industry has been instrumental in transforming the whole Indian economic and governance landscape. India’s IT industry is gaining footsteps in new disruptive technologies and will play a leading role in the coming future.
The Atma Nirbhar Bharat and ABDM initiative of the current government is bringing big change in the IT sector. Earlier, the Hardware sector was somehow neglected. Now, focus is also on building hardware manufacturing in India. The biggest step is to start manufacturing integrated chips (IC’s) in India, TATA has taken up initiative under Atma Nirbhar Bharat and the first manufacturing plant is being set up in Tamil Nadu.
India is expected to have a digital economy of $1 Trillion by 2025.
One of the largest electronics markets in the world anticipated reaching $400 bn by 2025.
Indian Electronics Manufacturing Service (EMS) Industry is expected to grow 6.5x from $23.5 bn to reach $152 bn by 2025.
Future belongs to India with a great share of work from different parts of the world and placement of Indian experts across the globe. Central government has initiated a transformation process in the education sector.
In the next few years, the last year of a degree course will be treated as an R&D year and the syllabus is being developed based on the latest technological advancements, skills and knowledge. This will surely add value to our graduates not just as job seekers however will be job creators.
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