The Indian Software Industry - Example

The paper "The Indian Software Industry" is a wonderful example of a report on business. In commerce, International trade is an essential component of growth and development. International trade is the exchange of commodities, services, and capital across international boundaries. In India, it represents a significant share of the Indian economy and that influences its GDP (Gross domestic product). International trade has significantly affected technological advancement in the Indian Software Industry, as products are freely imported and exported in and out of India.

Increasing free trade in the country has its benefits and demerits to the development of the Indian economy and its prevalent industries (Panagariya, 2008). India boasts of the eighth largest economy in the globe and thus is favored by investors. Its liberalization policy, progressive reforms, investment-friendly environment, a low–cost competitive workforce, higher disposable income among other factors has led to the transformation of investment from other regions into the country. As liberalization affects many industries in the country, there is no exception for the Indian Software Industry.

At the forefront of the economy of India, the Software industry has blossomed in the past decades as firms including TCS, Wipro, and Infosys have had tremendous growth and hence transformed the industry. Balance of Payment (BoP) The BoP (Balance of Payment) is a record of the transaction between India and the rest of the world on the international front. It includes all liabilities, obligations, and payments received from foreigners and those made to foreign countries over the past five years.

The BoP is an essential indicator of the status of Indian sectors and industries in the global market, thus reflects India’s competitiveness in terms of weaknesses and strengths. Therefore, the BoP is vital in promoting a balanced growth of the economy. Over the past few decades, India has emerged as a trendsetter in the IT and Software industry and as a result, the services and related products have become the leading exports. After the financial crisis, which affected the global economy, the Indian economy has shown early signs of resurgence from the crisis.

Over a period of the last five years, India’s BoP incorporating various sectors experienced major stress.