The direct employment in the IT/ITES sector was expected to be 2.0 million by end of FY08 and has been growing at a compounded annual growth rate (CAGR) of 26 per cent in the last decade. Studies have shown that for every one job created in the IT/ITES sector, four additional jobs are created in the rest of the economy.
Socio-economic dimension, that lends uniqueness to India’s pattern of growth and economic transformation, is evident in the relative surge in the growth of industrial and services sectors vis-à-vis primary segment. India seems to have skipped the stage of development that emphasises growth in labour intensive industries with absorption of surplus labour from the agricultural sector.