The Rise of Information Technology (IT)
The IT industry was freed from the Licence Raj, thanks to policy measures of the mid-1980s. As Indian companies found clients in the US, and the world over, it provided manpower and expertise at a fraction of the cost. The phenomenon of jobs in other countries being outsourced to Indian IT majors even led to the creation of a new word—Bangalored. The nearly $200 billion Indian IT services industry now has a total workforce of 4.36 million.