With over 3,100 start-ups, India is ranked as the fourth largest start-up hub in the world, according to the Economic Survey 2014-15. This was mainly driven by ‘hyper-growth’ in the technology start-up and software product landscape.
Software development and information technology-enabled services, including Business Process Management (BPM), software engineering R&D services and product development, have emerged as the most dynamic and vibrant sectors in India’s economy.
As per the Central Statistics Office, computer and related services, whose share in GDP is 3.3 per cent, grew by 14.4 per cent in 2013-14.
Contributed By Sonia Narula