India's IT services industry: a comparative analysis

To remain globally competitive, multinational corporations are outsourcing their IT services and relocating their labor-intensive operations overseas to low-wage countries. In the past decade, India's IT services industry emerged as an important player in this global market. While worldwide IT services revenue increased less than 2 percent from 2000 to 2003, India's IT services industry experienced a 22 percent revenue growth - a pace comparable to the rise in Hong Kong's electronics industry during the 1970s.