Discussing the various macroeconomic factors and policies that have fueled the growth of Information Communication Technology (ICT) sector, the IT and ITeS Employees Centre held a seminar in the city on Sunday.
Noted economist and JNU professor C P Chandrashekhar addressed the students and members of the industry on wealth and welfare, from the perspective of IT industry. Quoting Central Statistical Organisation (CSO) figures he pointed out that the estimated GDP generated in ICT sector has increased from Rs 656 billion in 2000-01 to Rs 2,530 billion in 2007-08, representing a share of 5.9 per cent in total GDP. He explained that software services contributed significantly to the growth of ICT sector in India.
“The contribution of ICT growth to employment is very low. Employment generation in IT sector does not compare with its income and foreign exchange that it generates. According to sources, this sector accounted only 0.2 per cent of the work force,” he said. The panelists said there was a need to look at the unique production process, the disproportionate wealth created due to the cost arbitrage model.
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