According to the recent report published in an Indian magazine, Pakistan is now taking over the information technology (IT) jobs from India. This news emerged on mainstream blogs when 125 people lost their jobs in the US based IT company in Noida and then at the same time, these jobs were outsourced to Pakistan based IT firm.
Planning & Development Minister Ahsan Iqbal recently tweeted the story which claims that it’s a great international recognition for Pakistan’s IT industry.
How is Pakistan winning the race in IT sector?
The IT industry in India is well known for their innovations and dominance traits but recently, it has been plagued badly, as they have more job cuts from past two years and experiencing worst situations since the start of 2017. Due to this worst scenario, the trend of IT jobs is now shifting to Pakistan and this factor is giving a boost to the growth of Pakistan IT industry.
Moreover, India has been losing IT jobs for almost two years as Bangladesh, Malaysia, and the Philippines have been gradually snatching the employment standards by offering more affordable resources and workers. And now, Pakistani techies have also been contributed to the growth of IT industry with their great innovations and great ideas.
Pakistan’s Exponential growth in IT:
Pakistan’s IT sector growth has been recorded exponentially as the overall size has touched around $3 billion. It has got doubled in last four years and according to experts, it is expected to grow further about 100% in next four years.
A brief comparison
Pakistan has a constantly growing IT industry as compared to India. The size of an Indian IT industry is almost 51 times bigger as compared to Pakistan. It is worth $154 billion and also includes $38 billion in their domestic sales and has $117 billion contributions in export rates.
While IT industry of Pakistan is growing quite faster as compared to Indian IT industry. The IT sector of Pakistan is now growing by 20% per year as compared to Indian industry’s growth rate which is only 7-8%.
Is Pakistan the next software hub?
Pakistan has got the great potential to invest and capitalize on the opportunity. According to the article in New York Times, it was said that Pakistan is “the next software hub”. But according to the recent growth in IT sector, is it possible to assume that we will be ruling the IT industry in next 4 years? Some job providing portals like upwork.com and freelance.com has more than 27 million registered users. They have also reported that Pakistanis are now at the fifth position in the category of largest number of IT freelancers.
Therefore, like the overall economy, Pakistan’s IT industry is also showing a great progress. But the fact is, political instability is still undermining the growth and creating several hindrances; since investors do not feel much safe while investing in these countries where political issues are prevailing day by day.
If you want to get more interesting news, facts and articles on IT and technology, visit VoIP Terminator for best details on every topic.