The Information Technology (IT) sector is an essential component of the technology-driven knowledge economy of the 21st century. In fact, globally India has been recognised as a knowledge economy due to its impressive IT industry. The IT industry mainly encompasses IT services, IT-enabled services (ITES), e-commerce (online business), software and hardware products.
This industry has been instrumental in creating infrastructure to store, process and exchange information for important business operations and other organisations. The IT-based services and products have become indispensable for flourishing any business enterprise and accomplishing success. It also has a conspicuous impact in improving the productivity of almost every other sector of the economy and serves as an undercurrent for further accelerating the growth and economic development including the manufacturing sector where devices such as mobile phones and laptops have been able to generate employment spurred on by government schemes such as MSIPs.