Coffee Table Book
The Economic Times Best Tech Brands 2021
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.
Information Technology has not only contributed to the economic development of the country but it has also made governance more efficient and responsive. It has made access to government services and information easier and inexpensive. Information technology has also made management and delivery of government service (such as health services, consumer rights, etc.) more effective with enhancing transparency.
The growth of the IT industry in India is unprecedented across the economies of the world. All the sub-sectors of this industry (hardware products have relatively seen less progress) have made strides in revenue growth in the last two decades and fuelled the growth of the Indian economy. The rapid advancement within the IT industry and liberalisation policies such as reducing trade barriers and eliminating import duties on technology products by the Government of India are instrumental in the growth of this industry. Also, various other government initiatives like setting up Software Technology Parks (STP), Export Oriented Units (EOU), Special Economic Zones (SEZ) and foreign direct investment (FDI) have helped this industry in achieving a dominant position in the world IT industry.
Technology in India
India ranks third among the most attractive investment destinations for technology transactions in the world. Modern India has had a strong focus on science and technology, realising that it is a key element for economic growth. India is among the topmost countries in the world in the field of scientific research, positioned as one of the top five nations in the field for space exploration. The country has regularly undertaken space missions, including missions to the moon and the famed Polar Satellite Launch Vehicle (PSLV).
- India is likely to take a leading role in launching satellites for the SAARC nations.
- In September 2020, India moved four places up to reach the 48th rank and made to the top 50 countries in the Global Innovation Index (GII) for the first time.
- India ranks in the top 15 for indicators such as ICT services exports, graduates in science and engineering, government online services and R&D-intensive global companies.
- India ranked 52 in Global Innovation Index (GII)-2019. It moved up to fifth rank in Global R&D Funding Forecast 2020.
- India’s gross expenditure in R&D was forecast to reach US$ 96.50 billion in 2020.
- By 2022, R&D expenditure is targeted to reach at least 2 per cent of the country’s GDP.
The Economic Times Best Tech Brands
We at The Economic Times along with our research team have conducted an extensive survey and have shortlisted top brands under various segments of technology after considering the parameters of Innovation, Brand Value, Brand Recall, Consumer Satisfaction, Customer Service and Quality. These brands would be felicitated and featured in the coffee table book whose cover will be launched at The Economic Times Best Tech Brands 2020 – 2021.