Impact of Information and Communication Technologies (ICT) in the transformation of Indian economy

Abstract

The information era has swept the world with powerful force affecting the society. As the world is transforming towards knowledge society, India too is moving proportionately competing with the world. Across the globe, countries have recognized Information Technology (IT) as an effective tool in catalyzing the economic activity in efficient governance, and in developing human resources. The objective of this study is to examine the impact of ICT in the transformation of the Indian economy. The development and use of information and communication technology (ICT) differ in many dimensions: between countries and within countries. The IT revolution has opened up new possibilities of economic and social transformations from which both developed and developing countries can potentially benefit. The emergence of a developing country like India as a significant supplier of Software Services in the world market has attracted a lot of attention in the developmental literature. ICT application depends on several factors like existence of ICT infrastructure, people's skill and knowledge, etc. ICT has speed up the structural transformation in different areas in the economic, social and cultural life. A society with a well-educated, technology- literate population is more likely to attract and sustain new businesses.