The Indian IT Industry is playing a vital role in India’s economic growth. It accounts nearly for a 5.2 percent of the country’s GDP. Over the last 10 years, this industry has grown at an average annual rate of 30 percent. The major areas include IT services, BPO and outsourcing. According to National Association of Software and Services Companies (NASSCOM), IT services are generating 68 percent of the total revenue of Indian IT industry (Annual Report 2010-2011). While 70 percent of the total IT companies are small companies, the balance 30 percent include Infosys, TCS, Wipro, Cognizant and Genpact as the top 5 companies (Figure 1). This sector provides employment to more than 2.5 million people either directly or indirectly, thus making it one of the biggest job creators in India (Confederation of Indian Industry, 2011).