◦ Advantage to Consumers

◦ New Jobs
◦ New Technology and Production Methods
Impact of ◦ Large Indian Companies emerged as MNCs
Globalization ◦ Development of Service Industries
on Indian ◦ Small Producers Suffer

Economy ◦ Uncertainty in Employment

◦ Less Brain Drain

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Growth of Information technology and
Communication
◦ Important for socio-economic development.
◦ ICT – role of unified communications and integration of
telecommunications, computers as well as necessary software and
systems which enable users to access, store, transmit and
manipulate data.

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Growth of Information and Communications
Technology (ICT)
◦ Benefits business world by allowing organizations to work more effectively.
◦ Electric storage, protection of records.
◦ Less burden on staff.
◦ IT revolution was the main highlight of the American economy – 1990s
◦ Emerged in India soon after.
◦ 2001 – IT year
◦ IT sector as a hub of employment. Prominent – B’lore
◦ Indian IT industry – 7.7% of the country’s GDP
◦ NASSCOM 2016- annual revenues from IT - $130 billion

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 Impact of ICT
Cut cost of
Increases Improves data Improves
Improves operation and
production & storage and file financial
communication increases on
saves time management management
ROI

Improves
Improves Electronic Bill
business Credit cards Improved
consumer presentation
competitive and Smart cards Innovation
relationship and Payment
advantages

Online
Improved Improved social
Knowledge education and Online banking
entertainment discovery
accessibility

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 Negative Impact
◦ Implementation expenses
◦ Job elimination
◦ Security Breaches
◦ Internet security issues
◦ Faulty products and duplication
◦ Privacy
◦ Cyber-sickness
◦ Social implication
◦ Over dependence on IT
◦ Poor publications online
◦ Money Laundering
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