The Indian IT industry is in a mature stage. Since the IT service industry is tightly integrated with the technology backbone of all the conventional industries, our volatility evens out as it is a sum total of volatilities of all other industries put together.
Today , it sounds clichéd to keep repeating that technology is a differentiator, and no longer an enabler. There is not a single industry today that can claim to be successful without technological innovation. How one efficiently leverages technology for knowledge management, automation, optimisation and general decision-making is what differentiates one mature organisation from the other. The future bodes well for IT because even if the conventional industry's growth slows down, within every mature organisation, the investments in technology will continue to draw higher investments. The relevance of technology is timeless; in good times, it is leveraged to fuel faster growth while in bad times, it is used for better cost optimisation.
What do engineers need?
How can they be better equipped? Obviously , the entire Indian education system itself, not just IT, needs to become more practice-oriented. You cannot be teaching things, which are outdated because the world is changing very rapidly , so the curriculums as well as the style of imparting education need to be continuously upgraded. The second thing we need to understand is technology by itself doesn't mean anything. Technology is attached to the industry , so software professionals need to know how the technology they are developing applies to industry . There is a need for them to have a better appreciation of the industry domains they are operating in and the business problems they are addressing.
The author is CEO and MD, Cybage Software Pvt Ltd