India is the world’s largest democracy. Home to 1.4 billion people, it’s predicted to overtake China as the most populated country in the world by 2028. The global leader in IT outsourcing, India is diversifying from its traditional base in customer call centers, internal help desk support and business process outsourcing to take on innovation trends such as blockchain and artificial intelligence.
Talent Pool & Education
India’s tech industry employs more than five million people and has recorded its highest growth since 2011 – a trend that's expected to continue. Some 2,250 tech start-ups were founded in 2021 alone. India dominates the market for IT outsourcing, thanks to its large and well-educated English-speaking population. Many US universities now accept Indian exchange students, whose understanding of Western culture and business practices ease many of the communication challenges initially experienced in the mid-1990s. In the latest Global Cybersecurity Index, India moved up 37 places to an overall rank of 10th in the world for the strength of its commitment to cybersecurity.
Hindi and English are India's official languages, the legacy of a century under British rule. Most software engineers speak English, but accents may present a challenge.
India's economic recovery is on a "solid path" amid rapid vaccination progress, robust export growth and public investments, according to the United Nations World Economic Situation and Prospects 2022 report. However, high oil prices and coal shortages could put the brakes on economic activity in the near term. Inflation has remained close to the upper band of the Reserve Bank of India but is expected to ebb as supply chain disruptions are resolved, and financial markets remain strong.
India is facing a slew of elections – both state and presidential – as the country ushers in its 75th year of independence from British rule. Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) came to power on a platform to alleviate poverty, and Delhi-based political analyst Manisha Priyam says, “for the common people, he has delivered.” Support still appears strong for Modi’s Hindu-nationalist agenda, at the cost of some civil rights. In 2021, US-based non-profit Freedom House downgraded India from a free democracy to a "partially free democracy.”