WHY ARE CSE AND IT THE MOST SOUGHT AFTER PROGRAMS AMONGST ENGINEERING STUDENTS?
On 07/05/20, by admin, under WHY ARE CSE AND IT THE MOST SOUGHT AFTER PROGRAMS AMONGST ENGINEERING STUDENTS?
Computer Science Engineering (CSE) is an academic program that integrates the field of Computer Engineering and Computer Science. The program, which emphasizes the basics of computer programming and logical thinking, comprises a plethora of topics. The topics are related to computation, algorithms, programming languages, program design, computer software, computer hardware, etc.
Computer science engineering jobs include many aspects of computing, from the design of individual microprocessors, personal computers, and supercomputers to circuit designing and writing software through logical thinking that powers them.
Information technology (IT), in today's world Information Technology (IT), has become the most fundamental need for the proper functioning of human society. Be it running the banks or getting food from an eatery home-delivered; Information Technology has become part and parcel of our lives. This dependence on Information Technology has given rise to the demand for learning and further innovation in this field. As a result, it has become one of the most popular areas in education and career. You can find IT specialization in every branch of education, from IT & Software, Engineering, Aviation and Medicine to MBA and even Hospitality. In such a scenario, a career in IT sector is the most relevant and financially rewarding path to follow for students.
Indian IT and ITES Industry
The global sourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. India is the leading sourcing destination across the world, accounting for approximately 55 percent market share of the US$ 185-190 billion global services sourcing business in 2017-18. Indian IT & ITeS companies have set up over 1,000 global delivery centers in about 80 countries across the world.
India has become the digital capabilities hub of the world, with around 75 percent of global digital talent present in the country.
The IT-BPM sector in India stood at US$177 billion in 2019, witnessing a growth of 6.1 percent year-on-year and is estimated that the size of the industry will grow to US$ 350 billion by 2025. India's IT & ITeS industry grew to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19, while domestic revenues (including hardware) advanced to US$ 44 billion. The IT industry employs 4.1 million people as of FY19.
Spending on information technology in India is expected to reach US$ 90 billion in 2019.
Revenue from the digital segment is expected to comprise 38 percent of the forecasted US$ 350 billion industry revenue by 2025.
Indian IT's core competencies and strengths have attracted significant investments from major countries. The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 39.47 billion between April 2000 and June 2019. It ranks second in an inflow of FDI, as per data released by the Department for Promotion of Industry and Internal Trade (DPIIT).
Leading Indian IT firms like Google, Amazon, Zoho, Infosys, Wipro, TCS, and Tech Mahindra, are diversifying their offerings and showcasing leading ideas in blockchain, artificial intelligence to clients. They are using innovation hubs, research, and development centers to create differentiated offerings.
Some of the major developments in the Indian IT and ITeS sector are as follows:
Some of the major initiatives taken by the government to promote the IT and ITeS sector in India are as follows:
Following are the achievements of the government during 2017-18:
India is the leading offshoring destination for IT companies across the world. Having proven its capabilities in delivering both on-shore and offshore services to global clients, emerging technologies now offer an entire new gamut of opportunities for top IT firms in India. Export revenue of the industry is expected to grow 7-9 percent year-on-year to US$ 135-137 billion in FY19. The industry is expected to grow to US$ 350 billion by 2025, and BPM is expected to account for US$ 50-55 billion out of the total revenue.
Career in the IT sector
India is considered the hub of IT education, with over 4000 institutes and colleges offering various courses at undergraduate, postgraduate, doctoral, and certificate level. Besides, it is a known fact that almost all the top global IT companies have a sizable number of Indian IT graduates working in various capacities. In fact, the USA accounts for more than 60% of Indian IT professionals.
Information Technology courses are taught at both UG and PG degree levels. Various institutions in India also offer short-term courses like IT diplomas and certifications.
What media is mentioning in the news?
Indian tech industry facing biggest-ever HR challenge needs to recruit, skill two mn professionals:
The Economic Times
The increasing competition has not left organizations with much of an alternative. They have to either embrace the challenge or perish, according to the report titled 'AI & Future Of Work: Redefining Future Of Enterprise.' Employability with technology continues to be a problem despite India having a large number of higher academic institutions.
The Indian technology industry is facing its biggest-ever HR challenge with the need to recruit and skill more than 2 million professionals, as growing demand for 'exponential tech professionals' puts extreme pressure on it to remain globally competitive, according to a report.
Employability with technology continues to be a problem despite India having a large number of higher academic institutions, it added.
"There is an expected supply of 7 million people for the Indian technology industry that consists of graduates, PGs (postgraduates), diploma holders and PhDs (but) overall employability is 18 percent only," the report said.
On the other hand, it said, "Several jobs at the mid-level of Indian technology companies are becoming redundant or changing dynamically. Massive re-skilling in exponential technologies required swiftly."
Computer science engineering jobs include many aspects of computing, from the design of individual microprocessors, personal computers, and supercomputers to circuit designing and writing software through logical thinking that powers them.
Information technology (IT), in today's world Information Technology (IT), has become the most fundamental need for the proper functioning of human society. Be it running the banks or getting food from an eatery home-delivered; Information Technology has become part and parcel of our lives. This dependence on Information Technology has given rise to the demand for learning and further innovation in this field. As a result, it has become one of the most popular areas in education and career. You can find IT specialization in every branch of education, from IT & Software, Engineering, Aviation and Medicine to MBA and even Hospitality. In such a scenario, a career in IT sector is the most relevant and financially rewarding path to follow for students.
Indian IT and ITES Industry
The global sourcing market in India continues to grow at a higher pace compared to the IT-BPM industry. India is the leading sourcing destination across the world, accounting for approximately 55 percent market share of the US$ 185-190 billion global services sourcing business in 2017-18. Indian IT & ITeS companies have set up over 1,000 global delivery centers in about 80 countries across the world.
India has become the digital capabilities hub of the world, with around 75 percent of global digital talent present in the country.
Market Size
The IT-BPM sector in India stood at US$177 billion in 2019, witnessing a growth of 6.1 percent year-on-year and is estimated that the size of the industry will grow to US$ 350 billion by 2025. India's IT & ITeS industry grew to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19, while domestic revenues (including hardware) advanced to US$ 44 billion. The IT industry employs 4.1 million people as of FY19.
Spending on information technology in India is expected to reach US$ 90 billion in 2019.
Revenue from the digital segment is expected to comprise 38 percent of the forecasted US$ 350 billion industry revenue by 2025.
Investments/ Developments
Indian IT's core competencies and strengths have attracted significant investments from major countries. The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 39.47 billion between April 2000 and June 2019. It ranks second in an inflow of FDI, as per data released by the Department for Promotion of Industry and Internal Trade (DPIIT).
Leading Indian IT firms like Google, Amazon, Zoho, Infosys, Wipro, TCS, and Tech Mahindra, are diversifying their offerings and showcasing leading ideas in blockchain, artificial intelligence to clients. They are using innovation hubs, research, and development centers to create differentiated offerings.
Some of the major developments in the Indian IT and ITeS sector are as follows:
- The total export revenue of the industry is expected to grow 8.3 percent year-on-year to US$ 136 billion in FY19.
- UK-based tech consultancy firm, Contino, has been acquired by Cognizant.
- In May 2019, Infosys acquired a 75 percent stake in ABN AMRO Bank's subsidiary Stater for US$ 143.08 million
- In June 2019, Mindtree was acquired by L&T.
- Nasscom has launched an online platform that is aimed at up-skilling over 2 million technology professionals and skilling another 2 million potential employees and students.
- Revenue growth in the BFSI vertical stood at 6.80 percent y-o-y between July-September 2018.
- As of March 2018, there were over 1,140 GICs operating out of India.
- PE investments in the sector stood at US$ 2,400 million in Q4 2018.
Government Initiatives
Some of the major initiatives taken by the government to promote the IT and ITeS sector in India are as follows:
- In May 2019, the Ministry of Electronics and Information Technology (MeitY) launched theMeitYStartup Hub (MSH) portal.
- In February 2019, the Government of India released the National Policy on Software Products 2019 to develop India as a software product nation
- The government has identified Information Technology as one of 12 champion service sectors for which an action plan is being developed. Also, the government has set up a Rs 5,000 crore (US$ 745.82 million) fund for realizing the potential of these champion service sectors.
- As a part of Union Budget 2018-19, NITI Aayog is going to set up a national-level program that will enable efforts in AI^ and will help in leveraging AI^ technology for development works in the country.
- In the Interim Budget 2019-20, the Government of India announced plans to launch a national program on AI* and setting up of a National AI* portal.
- National Policy on Software Products-2019 was passed by the Union Cabinet to develop India as a software product nation.
Achievements
Following are the achievements of the government during 2017-18:
- About 200 Indian IT firms are present in around 80 countries.
- IT exports from India are expected to reach the highest ever mark of US$ 137billionof of revenues in FY19 growing at 8.3 percent.
- Revenue of GICs is expected to touch US$ 50 billion by 2025.
- Indian IT firms generated the highest ever revenue at US$ 181 billion in 2018-19.
Road Ahead
India is the leading offshoring destination for IT companies across the world. Having proven its capabilities in delivering both on-shore and offshore services to global clients, emerging technologies now offer an entire new gamut of opportunities for top IT firms in India. Export revenue of the industry is expected to grow 7-9 percent year-on-year to US$ 135-137 billion in FY19. The industry is expected to grow to US$ 350 billion by 2025, and BPM is expected to account for US$ 50-55 billion out of the total revenue.
Career in the IT sector
India is considered the hub of IT education, with over 4000 institutes and colleges offering various courses at undergraduate, postgraduate, doctoral, and certificate level. Besides, it is a known fact that almost all the top global IT companies have a sizable number of Indian IT graduates working in various capacities. In fact, the USA accounts for more than 60% of Indian IT professionals.
Information Technology courses are taught at both UG and PG degree levels. Various institutions in India also offer short-term courses like IT diplomas and certifications.
What media is mentioning in the news?
Indian tech industry facing biggest-ever HR challenge needs to recruit, skill two mn professionals:
The Economic Times
The increasing competition has not left organizations with much of an alternative. They have to either embrace the challenge or perish, according to the report titled 'AI & Future Of Work: Redefining Future Of Enterprise.' Employability with technology continues to be a problem despite India having a large number of higher academic institutions.
The Indian technology industry is facing its biggest-ever HR challenge with the need to recruit and skill more than 2 million professionals, as growing demand for 'exponential tech professionals' puts extreme pressure on it to remain globally competitive, according to a report.
Employability with technology continues to be a problem despite India having a large number of higher academic institutions, it added.
"There is an expected supply of 7 million people for the Indian technology industry that consists of graduates, PGs (postgraduates), diploma holders and PhDs (but) overall employability is 18 percent only," the report said.
On the other hand, it said, "Several jobs at the mid-level of Indian technology companies are becoming redundant or changing dynamically. Massive re-skilling in exponential technologies required swiftly."