Information technology services are considered to be a sunrise industry in India and have expanded at a phenomenal growth rate. In fact, some of the biggest names among global information technology companies are headquartered in India. The industry, which is popularly known as the IT-ITES sector, is highly export-oriented and at the same time, generates a lot of its overall revenue from domestic clients spread across various industries. Information technology services are a major contributor to the country’s gross domestic product (GDP) and also employ a large section of the skilled workforce. However, the recent worldwide financial crisis has negatively affected the information technology sector and has resulted in less hiring and surplus workforce. With the shrinkage in billing rates, overall revenues have also taken a hit. A more focused customer-centric approach, shift towards newer emerging markets and adoption of innovative business models should help in the revival of the industry. Hide this