Information Technology, Knowledge-based Economy and India

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During the last decade, the Indian professionals and firms have been successful in terms of information technology and this why the politicians, entrepreneurs and bureaucrats are now thinking India can ride the information technology bandwagon into a smart, knowledge-based economy. While internet and computer are widely being using by a great portion of the population in India, the country is thinking to make internet-based government in the near future. There is no doubt IT has changed the face of the Indian economy, but there is a bit discussion about the effectiveness and sustainability of knowledge-based economy as statics clearly say that about 79 percent of the Indian citizens are living in the villages without knowledge of economy. Moreover, 60 percent people are considered to be literate, only know how to write simple words without formal schooling. However, the Indian government is investing millions of dollars in promoting the IT industry as a vehicle of economic transformation.

Information technology has the potentialities to make the economic processes more effective and efficient as it has been seen in the well-developed countries that how it makes our life easy. But with short supply basic infrastructures that put impacts a successful economy such as health care, educational opportunities, drinking water and electricity, it is a question that how can a knowledge-based economy sustain.

On the other hand, the new generation is taking advantages of information technology. Internet and computers have become available for most of them, enabling them to proceed into the IT industry, which is definitely a great advantage for knowledge-based economy. In these days, a great portion of the new generation is getting benefits of IT, earning handsome amount of money for their living. Hundreds of IT firms are being building, as a result increasing job opportunities. The most of the youngsters in India wish to build their career in IT industry and it has become possible for the great investment of Indian government.

So it can be said that developing knowledge-based economy would be little bit difficult here, but it is not impossible as there are many signs telling on the behalf of e-economy.