Why India Is a Great Choice for Global Tech Giants
Tech Industry is smashed off by the regressive layoffs of Silicon Valley giants. The US market with other European countries is the centre of the recession that leads to a shortage of demand and mass firing of employees.
According to the report of India Times around, 1600 employees are losing their jobs per day due to the recession in 2023. Is this the end of the tech industry in India?
India is not the direct target of recession but is surely affected by the western markets. Still Indian tech companies are showing steady yet positive growth in these hard times. In fact, Indian tech professionals are gaining popularity at a time when competition for the tech workforce is fierce.
According to the NASSCOM FY2022 flagship report the Indian tech market is on its way to resurgence journey. India’s tech sector is now a $200 million market with more than a 5 million tech workforce. In the short-term report for FY2023, NASSCOM indicates a positive outlook on the future of the technology industry in India.
Why India Is Still a Top Choice for Global Tech Companies?
India is a booming economy, especially in the technology industry. India shows a 7.6% growth rate when the world’s biggest economies are falling because of a pandemic.
Every global tech company hopes for a fertile market and secure business that’s where India rules the demand of top technology companies.
Here are the top 10 reasons why India is a great choice for Global tech giants: –
The raw Internet market:
Indian internet market is 50% of the total 1.417 billion population rest are untouched by the internet revolution. And the largest raw internet market always tends to attract global tech giants.
Every business is vying to enter this untapped market and expand its roots with new internet users. Apart from the big tech cities or urban areas, India has a growing internet market in rural areas that has bigger hopes of the early expansion of the internet and other technologies.
Skilled IT talent:
As a large population base and strong technical education foundation India produces more than 1 million IT graduates yearly. Indian IITs, NIT, and IIITs generate top-skilled tech talent that the global tech giants need the most.
Indian tech minds are best cultivated to serve the Silicon Valley demand. Even Indian IT graduates are ruling the tech world as Alphabet (Google) CEO Sunder Pichai, IBM CEO Arvind Krishna, Microsoft CEO Satya Nadella, and Adobe- Shantanu Narayen.
Government support:
Indian government strongly supports entrepreneurship, innovation, and technology. To support the tech industry and Indian start-up system, approx. $1 billion has been invested after 2011.
India is emerging as the largest start-up ecosystem and more than 13,000 tech start-ups are blooming in the country.
The “Make in India” initiative of the Indian government strongly supports the Indian technology market and foreign companies to invest in the country.
Low-cost employees:
The cost difference or the low cost of living seems lucrative for tech companies to hire the best IT talent at an affordable package. The cost of living in India is not only lower than in the USA but firmly competes with other Asian countries as well.
Hiring an Indian developer or IT specialist is much easier than in other countries because of the cost-effective health benefits and other allowances.
Remote hiring or working from anywhere also makes a strong impact in the Indian IT sector. Global tech companies are hiring remotely through talent portals like BookMyTalent to onboard remote employees to save costs.
Low infrastructure cost:
The lower infrastructure cost compared to other countries help India to be the biggest opportunity for global companies. The Indian government also motivates foreign companies with tax relaxations and a compatible environment.
Setting up IT parks in major cities like Bengaluru, Gurgaon, Pune, Noida, Hyderabad, and Lucknow helps big tech companies to reach a broader talent pool.
The legal framework of electronic governance helps to flourish IT companies securely. IT Act and favorable investment or funding initiatives help foreign investors and global tech companies to enter the largest workforce and target market of India.
Preference for global languages:
India is a multilingual country with more than 22 languages moreover having the second largest of English speakers in the world. Proficiency in the English language is one of the major skills of Indian professionals to bridge the gap between talent and communication.
Indians are known for their eagerness to learn and challenge the norms. The big tech companies of European countries prefer Indian talent because of their flexibility to learn languages like German or French.
Security and reliability:
Security and reliability are the foremost benefits for global tech companies going to set up in India or hiring fresh IT talent. Indian government policies are strict to support industries or enterprises and provide world-class services for smooth functioning.
Indian IT workforce is setting up high standards in professional skills and reliability for easy hires. Around 70% of international brands and companies are present in India and hiring the best Indian talent for responsible positions.
Adaptable and diverse personality:
Indians are highly adaptable professionals that are serving in different parts of the world and thriving with their diverse personalities.
Indian culture makes people adaptable because of variations in geographical and cultural aspects. The high ratio of Indian immigrants in all the major countries is good enough to prove their excellence with adaptability.
High Perseverance in nature:
Highly competitive nature and society makes Indians hard-working and optimistic. Especially Tech professionals have to face the toughest challenges to clear entrance exams of Indian top institutions of engineering which is harder than Harvard or other international exams.
Challenging lifestyles and eagerness to prove themselves make Indian professionals hard-working and persevering in their careers. Indians are great problem solvers and logical thinkers that’s why India is the largest country of Engineers and tech leaders.
Largest Youth economy:
India’s young generation or less than 35 years old population is the largest weapon to have opportunities and solutions. India has young passionate professional graduates ready to revamp the world’s economy and serve the country for a better future. Every global tech giant is hopeful for India’s global market and its aspiring tech professionals.
Wrap-up:
Indian economy and the tech industry is preparing for a better future. Start-ups and IT firms setting examples for the west and helping the world’s IT sector to stand still with their steady growth.
Indian culture and government policies play a crucial role in growing the tech industry and helping start-ups to be new sharks of the world. Untouched Indian market and the largest number of skilled tech professionals ready to thrive on the world’s map.
Every global tech company looking to hire young Indian minds or establish their feet in the Indian market clarifies how India’s tech market shows steady growth even in these hard times. According to the crunch base report that $8.5 billion has been already funded to Indian start-ups.
Indian tech professionals or IT graduates are instantly hired by global tech companies because of their high competency and hard work. The Pandemic has also revamped the whole hiring process and stretched the limits of remote hires.
Remote hiring or contractual hiring is the new normal especially in the recession when companies are more focused on cost-cutting. That’s where the Indian tech market is in an advantageous position and serving the global techs remotely through reliable talent portals like BookMyTalent.
We have a long list of vetted IT professionals ready to get hired remotely in top businesses like yours. We have searched globally and came up with the best ones. All you have to do is visit our official website, go the find talent section, use filters and select your desired candidate.
Matching the right Talent with the right opportunity is our goal. Ready to onboard your next team member? Connect with us!