The 5th Annual Edition of The Information Technology Legal Summit 2017
THE INDIAN IT ITeS RUSH – POISED FOR GROWTH BEYOND
According to The Indian Brand Equity Foundation;
India is the world’s largest sourcing destination for the information technology (IT) industry, accounting for approximately 67 per cent of the US$ 124-130 billion market. The industry employs about 10 million workforces. More importantly, the industry has led the economic transformation of the country and altered the perception of India in the global economy. India’s cost competitiveness in providing IT services, which is approximately 3-4 times cheaper than the US, continues to be the mainstay of its Unique Selling Proposition (USP) in the global sourcing market. However, India is also gaining prominence in terms of intellectual capital with several global IT firms setting up their innovation centres in India.
The IT industry has also created significant demand in the Indian education sector, especially for engineering and computer science. The Indian IT and ITeS industry is divided into four major segments IT services, Business Process Management (BPM), software products and engineering services, and hardware.
The Indian IT sector is expected to grow at a rate of 12-14 per cent for FY 2016-17 in constant currency terms.The sector is also expected triple its current annual revenue to reach US$ 350 billion by FY 2025.
Employees from 12 Indian start-ups, such as Flipkart, Snapdeal, Makemytrip, Naukri, Ola, and others, have gone on to form 700 start-ups on their own, thus expanding the Indian start-up ecosystem.! India ranks third among global start-up ecosystems with more than 4,200 start-ups. Total spending on IT by banking and security firms in India is expected to grow 8.6 per cent year-on-year to US$ 7.8 billion by 2017!
India s internet economy is expected to touch Rs 10 trillion (US$ 146.72 billion) by 2018, accounting for 5 per cent of the country s GDP accounts for approximately 67 per cent of the US$124-130 billion market Indian IT’s core competencies and strengths have attracted significant investments from major countries. The computer software and hardware sector in India attracted cumulative Foreign Direct Investment (FDI) inflows worth US$ 22.83 billion between April 2000 and December 2016, according to data released by the Department of Industrial Policy and Promotion (DIPP).
But here’s a question, have we ever pondered as to how critically does the legal machinery contribute to the overall canvas of such excellence in the IT ITES sector? Lex Witness has been focusing on bringing forth the legal vanguards of the Indian IT ITES sector to bring to limelight the major legal issues and challenges that they face and the probable solutions to the same. The Lex Witness 5th Annual Edition of The Information Technology Legal Summit 2017 scheduled for 16th June 2017 at Le Meridien, Bengaluru that will host several brainstorming rounds of power packed sessions over quite sensitive subjects as far the legal and regulatory environ is concerned.
With 5 power packed sessions throughout the day, the summit will showcase industry leaders as expert speakers in their respective function areas expressing their lessons, tricks and success stories. The summit has been divided into the following thematic discussions;
- Cyber Security Are You About to Be Hacked?
- Governance Risk & Compliance Can We Create A 100% Compliant Environ?
- IPR – Is It Time for Business to Align With IPR Mindsets?
- E-Commerce Who S Buck Is It Anyway?
- New Age Tech Trends – Are We Ready to Do The New?