THE INFORMATION ECONOMY - Essay Example

Further the globalization of the resources and effective use of ICT has allowed large organizations to build competitive advantages so that they can better compete into international market. India is one of the important emerging markets in the world which is showing fast improvements on most of the economic grounds. However, this rise of India on the world economic scene has been mostly due to its strong Information Technology skills development. India has been able to expand its IT and IT enabled services because of the strong government support as India government, historically, has invested into the educating young Indians within the domain of Information Technology.

Mobile Phones have changed the economic activity because it has proved one of the rapid and cheapest sources of communicating for the Indians to conduct economic activities. Mobile Phones have been able to prove themselves more useful than computers because they provide quicker means of communicating. Mobiles Phones provide a quicker method of communicating between counter parties in trade. However this advancement in India has been made possible because of government of India’s efforts to invest and focus on IT education.

Music industry is one of the largest industries in the world as Music is almost heard by every civilized human being living in the modern world. This industry has evolved over the period of time as starting from crude and old methods of recording music to the new and more modern methods such as media players and internet music channels. The emergence of high bandwidth communication technologies, emergence of internet companies, and online selling of digital music have allowed global music industry to evolve greatly as the it has not only allowed it to get exposure to maximum consumers but also it has become cheaper.

The emergence of