...This rise in the importance of information has led the companies all over the world to start laying emphasis on deploying management information systems to run their businesses effectively. However most of the companies do not have the expertise to design, develop and deploy complex software systems to manage the information. Therefore the companies have started to outsource the development of computer software to software service providers with expertise in software development, so that they can concentrate on their areas of expertise in order to serve their clients better. The outsourcing of Information Technology services by various corporations around the world has led to the emergence of a fast growing and highly profitable software services sector. Over the past decade India has emerged as a premium destination for IT outsourcing. The cost advantages enjoyed by Indian software companies coupled with the high quality of services they deliver are the most importance reasons for the ascent of India as a global leader in providing the software services. Indian companies such as Infosys, TCS, Satyam, Wipro and HCL have become global players in delivering high quality software services to clients operating in various business verticals. The lower salaries commanded by the Indian software engineers as opposed to their counterparts in the developed nations coupled with the large talent pool in the country has attracted the global outsourcing majors such as IBM and Accenture to offshore a significant portion of their software design and development to India. Software exports from India have grown at a tremendous pace since the early 90s. As per the last NASSCOM annual report, IT services exports grew by 29% in the Fiscal Year 2007-2008. The rise in the revenues from software exports has played a significant role in increasing the foreign exchange reserves of the...
